Senate File 219 - Introduced SENATE FILE 219 BY WHITING A BILL FOR An Act relating to the maximum amount of property taxes due or 1 rent constituting property taxes paid that may be considered 2 in calculating the elderly and disabled property tax 3 credit or rent reimbursement and including applicability 4 provisions. 5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 6 TLSB 2397XS (2) 89 md/jh

S.F. 219 Section 1. Section 425.24, Code 2021, is amended to read as 1 follows: 2 425.24 Maximum property tax for purpose of credit or 3 reimbursement. 4 In any case in which property taxes due or rent constituting 5 property taxes paid for any household exceeds one two thousand 6 dollars, the amount of property taxes due or rent constituting 7 property taxes paid shall be deemed to have been one two 8 thousand dollars for purposes of this subchapter . 9 Sec. 2. IMPLEMENTATION. Section 25B.7 shall not apply to 10 this provision of this Act. 11 Sec. 3. APPLICABILITY. This Act applies January 1, 2022, 12 for claims for credits or reimbursement filed under chapter 13 425, subchapter II, on or after that date. 14 EXPLANATION 15 The inclusion of this explanation does not constitute agreement with 16 the explanation’s substance by the members of the general assembly. 17 This bill increases from $1,000 to $2,000 the maximum amount 18 of property taxes due or rent constituting property taxes paid 19 that may be considered in calculating the elderly and disabled 20 property tax credit or rent reimbursement under Code chapter 21 425, subchapter II. 22 Code section 25B.7 provides that for a property tax credit 23 or exemption enacted on or after January 1, 1997, if a state 24 appropriation made to fund the credit or exemption is not 25 sufficient to fully fund the credit or exemption, the political 26 subdivision shall be required to extend to the taxpayer only 27 that portion of the credit or exemption estimated by the 28 department of revenue to be funded by the state appropriation. 29 The bill makes Code section 25B.7 inapplicable to the bill. 30 The bill applies January 1, 2022, for claims for credits or 31 reimbursement filed under Code chapter 425, subchapter II, on 32 or after that date. 33 -1- LSB 2397XS (2) 89 md/jh 1/ 1