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Senate File 154 - IntroducedA Bill ForAn Act 1relating to the filing requirements for the business
2property tax credit and including effective date provisions.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 426C.3, subsection 7, Code 2019, is
2amended to read as follows:
37. When all or a portion of a parcel or property unit that
4is allowed a credit under this chapter is sold, transferred,
5or ownership otherwise changes, the buyer, transferee, or
6new owner who wishes to receive the credit shall refile the
7claim for credit. In addition, when a portion of a parcel or
8property unit that is allowed a credit under this chapter is
9sold, transferred, or ownership otherwise changes, the owner of
10the portion of the parcel or property unit for which ownership
11did not change shall refile the claim for credit.
12 Sec. 2. EFFECTIVE DATE. This Act, being deemed of immediate
13importance, takes effect upon enactment.
14EXPLANATION
15The inclusion of this explanation does not constitute agreement with
16the explanation’s substance by the members of the general assembly.
17This bill strikes the provision in Code section 426C.3
18requiring that when a portion of a parcel or property unit that
19is allowed a business property tax credit is sold, transferred,
20or ownership otherwise changes, the owner of the portion of the
21parcel or property unit for which ownership did not change must
22refile the claim for credit.
23The bill takes effect upon enactment.
-1-md/jh
2property tax credit and including effective date provisions.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 426C.3, subsection 7, Code 2019, is
2amended to read as follows:
37. When all or a portion of a parcel or property unit that
4is allowed a credit under this chapter is sold, transferred,
5or ownership otherwise changes, the buyer, transferee, or
6new owner who wishes to receive the credit shall refile the
7claim for credit. In addition, when a portion of a parcel or
8property unit that is allowed a credit under this chapter is
9sold, transferred, or ownership otherwise changes, the owner of
10the portion of the parcel or property unit for which ownership
11did not change shall refile the claim for credit.
12 Sec. 2. EFFECTIVE DATE. This Act, being deemed of immediate
13importance, takes effect upon enactment.
14EXPLANATION
15The inclusion of this explanation does not constitute agreement with
16the explanation’s substance by the members of the general assembly.
17This bill strikes the provision in Code section 426C.3
18requiring that when a portion of a parcel or property unit that
19is allowed a business property tax credit is sold, transferred,
20or ownership otherwise changes, the owner of the portion of the
21parcel or property unit for which ownership did not change must
22refile the claim for credit.
23The bill takes effect upon enactment.
-1-md/jh