House
File
206
-
Introduced
HOUSE
FILE
206
BY
COMMITTEE
ON
WAYS
AND
MEANS
(SUCCESSOR
TO
HSB
67)
A
BILL
FOR
An
Act
relating
to
the
assessment
of
property
containing
1
certain
aboveground
storage
tanks
and
including
effective
2
date
and
retroactive
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
1206HV
(2)
90
md/jh
H.F.
206
Section
1.
Section
427A.1,
Code
2023,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
6A.
Notwithstanding
the
other
provisions
3
of
this
section,
aboveground
storage
tanks
of
any
size
that
are
4
not
attached
within
the
meaning
of
subsection
3
shall
not
be
5
assessed
and
taxed
as
real
property.
6
Sec.
2.
IMPLEMENTATION.
Section
25B.7
shall
not
apply
to
7
this
Act.
8
Sec.
3.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
9
importance,
takes
effect
upon
enactment.
10
Sec.
4.
RETROACTIVE
APPLICABILITY.
This
Act
applies
11
retroactively
to
assessment
years
beginning
on
or
after
January
12
1,
2023.
13
EXPLANATION
14
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
15
the
explanation’s
substance
by
the
members
of
the
general
assembly.
16
Code
section
427A.1
specifies
that
for
the
purposes
of
17
property
taxation
only,
certain
property
shall
be
assessed
18
and
taxed,
unless
otherwise
qualified
for
exemption,
as
real
19
property,
including
buildings,
structures,
or
improvements,
any
20
of
which
are
constructed
on
or
in
the
land,
attached
to
the
21
land,
or
placed
upon
a
foundation
whether
or
not
attached
to
22
the
foundation.
However,
property
is
not
“attached”
if
it
is
23
a
kind
of
property
which
would
ordinarily
be
removed
when
the
24
owner
of
the
property
moves
to
another
location.
25
This
bill
provides
that
aboveground
storage
tanks
of
any
26
size
that
would
ordinarily
be
removed
when
the
owner
of
the
27
property
moves
to
another
location
shall
not
be
assessed
and
28
taxed
as
real
property.
29
The
bill
makes
inapplicable
Code
section
25B.7.
Code
30
section
25B.7
provides
that
for
a
property
tax
credit
or
31
exemption
enacted
on
or
after
January
1,
1997,
if
a
state
32
appropriation
made
to
fund
the
credit
or
exemption
is
not
33
sufficient
to
fully
fund
the
credit
or
exemption,
the
political
34
subdivision
shall
be
required
to
extend
to
the
taxpayer
only
35
-1-
LSB
1206HV
(2)
90
md/jh
1/
2
H.F.
206
that
portion
of
the
credit
or
exemption
estimated
by
the
1
department
of
revenue
to
be
funded
by
the
state
appropriation.
2
The
bill
takes
effect
upon
enactment
and
applies
3
retroactively
to
assessment
years
beginning
on
or
after
January
4
1,
2023.
5
-2-
LSB
1206HV
(2)
90
md/jh
2/
2