House File 227 - Introduced HOUSE FILE 227 BY STONE A BILL FOR An Act relating to the disabled veteran homestead tax credit by 1 modifying eligibility criteria and including effective date 2 and applicability provisions. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2232YH (2) 89 md/jh
H.F. 227 Section 1. Section 425.15, subsection 1, paragraphs b and c, 1 Code 2021, are amended to read as follows: 2 b. A veteran as defined in section 35.1 with a permanent 3 service-connected disability rating of one hundred seventy 4 percent or higher , as certified by the United States department 5 of veterans affairs, or a permanent and total disability rating 6 based on individual unemployability that is compensated at the 7 one hundred percent disability rate, as certified by the United 8 States department of veterans affairs. 9 c. A former member of the national guard of any state who 10 otherwise meets the service requirements of section 35.1, 11 subsection 2 , paragraph “b” , subparagraph (2) or (7), with a 12 permanent service-connected disability rating of one hundred 13 seventy percent or higher , as certified by the United States 14 department of veterans affairs, or a permanent and total 15 disability rating based on individual unemployability that is 16 compensated at the one hundred percent disability rate, as 17 certified by the United States department of veterans affairs. 18 Sec. 2. EFFECTIVE DATE. This Act, being deemed of immediate 19 importance, takes effect upon enactment. 20 Sec. 3. APPLICABILITY. This Act applies to applications for 21 the disabled veteran tax credit filed on or after the effective 22 date of this Act. 23 EXPLANATION 24 The inclusion of this explanation does not constitute agreement with 25 the explanation’s substance by the members of the general assembly. 26 Current Code section 425.15, in part, provides a homestead 27 credit to the owner of a homestead for the full amount of tax 28 levied if the owner is either of the following: (1) a veteran 29 with a permanent service-connected disability rating of 100 30 percent or a permanent and total disability rating based on 31 individual unemployability that is compensated at the 100 32 percent disability rate; or (2) a former member of the national 33 guard of any state who meets specified service requirements 34 with a permanent service-connected disability rating of 100 35 -1- LSB 2232YH (2) 89 md/jh 1/ 2
H.F. 227 percent or a permanent and total disability rating based on 1 individual unemployability that is compensated at the 100 2 percent disability rate. 3 This bill amends a portion of the credit qualification 4 criteria for those categories of veterans and former members 5 of the national guard to require a permanent service-connected 6 disability rating of 70 percent or higher. The bill does not 7 amend the portion of the credit qualification criteria based on 8 the determination of individual unemployability. 9 The bill takes effect upon enactment and applies to 10 applications for the disabled veteran tax credit filed on or 11 after the effective date of the bill. 12 -2- LSB 2232YH (2) 89 md/jh 2/ 2