HF 593 (LSB 1538YH (1) 91)

HOUSE FILE 593

BY  GUSTOFF

A BILL FOR

An Act relating to groundwater hazard statement requirements.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 558.69, subsection 1, unnumbered paragraph 1, Code 2025, is amended to read as follows:
   With each declaration of value submitted to the county recorder under chapter 428A, except for deeds described in section 428A.2, subsection 22, and as specified in subsection 8, there shall be submitted a groundwater hazard statement stating all of the following:
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill creates an exception to the requirement to submit a groundwater hazard statement when submitting a declaration of value to the county recorder. The bill provides that when a declaration of value is submitted to a county recorder for a deed transferring distributions of assets to beneficiaries of a trust when conveyed without consideration, the submitter does not have to also submit a groundwater hazard statement.