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Senate File 2049 - IntroducedA Bill ForAn Act 1relating to the application of specified licensure
2provisions to investment property owned by designated
3licensees.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 103.1, Code 2020, is amended by adding
2the following new subsection:
3 NEW SUBSECTION. 10A. “Investment property” means property,
4other than a principal residence, leased to another person
5or owned for the primary purpose of selling the property to
6generate a short-term capital gain, short-term capital loss,
7long-term capital gain, or long-term capital loss, as defined
8in 26 U.S.C. §1222.
9 Sec. 2. Section 103.22, Code 2020, is amended by adding the
10following new subsection:
11 NEW SUBSECTION. 16. Prohibit an owner of investment
12property who is a licensed class A or class B journeyman
13electrician from performing work on the owner’s investment
14property.
15 Sec. 3. Section 105.2, Code 2020, is amended by adding the
16following new subsection:
17 NEW SUBSECTION. 8A. “Investment property” means property,
18other than a principal residence, leased to another person
19or owned for the primary purpose of selling the property to
20generate a short-term capital gain, short-term capital loss,
21long-term capital gain, or long-term capital loss, as defined
22in 26 U.S.C. §1222.
23 Sec. 4. Section 105.11, Code 2020, is amended by adding the
24following new subsection:
25 NEW SUBSECTION. 15. Prohibit an owner of investment
26property who is a licensed journeyperson from performing work
27on the owner’s investment property.
28EXPLANATION
29The inclusion of this explanation does not constitute agreement with
30the explanation’s substance by the members of the general assembly.
31This bill relates to the application of electrician,
32plumbing, mechanical, HVAC, refrigeration, sheet metal, and
33hydronic systems licensure provisions to investment property
34owned by specified licensees.
35The bill provides the provisions of Code chapter 103,
-1-1relating to electrician licensure, do not prohibit licensed
2class A or class B journeyman electricians from performing work
3on their investment property.
4The bill also provides the provisions of Code chapter
5105, relating to plumbing, mechanical, HVAC, refrigeration,
6sheet metal, and hydronic systems licensure, do not prohibit
7journeypersons from performing work on their investment
8property.
9For purposes of Code chapter 103 and Code chapter 105, the
10bill defines “investment property” to mean property leased to
11another person or property owned for the primary purpose of
12selling the property to generate a short-term capital gain,
13short-term capital loss, long-term capital gain, or long-term
14capital loss, as defined in 26 U.S.C. §1222, so long as the
15property is not the licensee’s principal residence.
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2provisions to investment property owned by designated
3licensees.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 103.1, Code 2020, is amended by adding
2the following new subsection:
3 NEW SUBSECTION. 10A. “Investment property” means property,
4other than a principal residence, leased to another person
5or owned for the primary purpose of selling the property to
6generate a short-term capital gain, short-term capital loss,
7long-term capital gain, or long-term capital loss, as defined
8in 26 U.S.C. §1222.
9 Sec. 2. Section 103.22, Code 2020, is amended by adding the
10following new subsection:
11 NEW SUBSECTION. 16. Prohibit an owner of investment
12property who is a licensed class A or class B journeyman
13electrician from performing work on the owner’s investment
14property.
15 Sec. 3. Section 105.2, Code 2020, is amended by adding the
16following new subsection:
17 NEW SUBSECTION. 8A. “Investment property” means property,
18other than a principal residence, leased to another person
19or owned for the primary purpose of selling the property to
20generate a short-term capital gain, short-term capital loss,
21long-term capital gain, or long-term capital loss, as defined
22in 26 U.S.C. §1222.
23 Sec. 4. Section 105.11, Code 2020, is amended by adding the
24following new subsection:
25 NEW SUBSECTION. 15. Prohibit an owner of investment
26property who is a licensed journeyperson from performing work
27on the owner’s investment property.
28EXPLANATION
29The inclusion of this explanation does not constitute agreement with
30the explanation’s substance by the members of the general assembly.
31This bill relates to the application of electrician,
32plumbing, mechanical, HVAC, refrigeration, sheet metal, and
33hydronic systems licensure provisions to investment property
34owned by specified licensees.
35The bill provides the provisions of Code chapter 103,
-1-1relating to electrician licensure, do not prohibit licensed
2class A or class B journeyman electricians from performing work
3on their investment property.
4The bill also provides the provisions of Code chapter
5105, relating to plumbing, mechanical, HVAC, refrigeration,
6sheet metal, and hydronic systems licensure, do not prohibit
7journeypersons from performing work on their investment
8property.
9For purposes of Code chapter 103 and Code chapter 105, the
10bill defines “investment property” to mean property leased to
11another person or property owned for the primary purpose of
12selling the property to generate a short-term capital gain,
13short-term capital loss, long-term capital gain, or long-term
14capital loss, as defined in 26 U.S.C. §1222, so long as the
15property is not the licensee’s principal residence.
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