House File 2422 - IntroducedA Bill ForAn Act 1relating to eligibility for a property tax exemption for
2certain property of veterans associations.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1   Section 1.  Section 427.1, subsection 5, Code 2020, is
2amended to read as follows:
   35.  Property of associations of war veterans.
   4a.  The property of any organization composed wholly of
5veterans of any war, when such property is, except as otherwise
6provided in this subsection or subsection 14, devoted entirely
7to its own use and not held for pecuniary profit.
   8b.  The operation of bingo games on property of such
9organization shall not adversely affect the exemption of that
10property under this subsection if all proceeds, in excess
11of expenses, are used for the legitimate purposes of the
12organization.
   13c.  The occasional or irregular lease or rental of all
14or a portion of the property of such organization shall not
15adversely affect the exemption of that property under this
16subsection if the proceeds from such lease or rental do not
17exceed two hundred fifty dollars per lease or rental, and the
18proceeds, in excess of expenses, are used for the legitimate
19purposes of the organization. In addition, the occasional
20or irregular lease or rental shall be considered a use for
21the appropriate objects of the organization for purposes of
22subsection 14.
23EXPLANATION
24The inclusion of this explanation does not constitute agreement with
25the explanation’s substance by the members of the general assembly.
   26This bill concerns the property tax exemption for certain
27property of an organization composed of veterans. The bill
28strikes the requirement that the exemption is limited only to
29those organizations wholly composed of veterans of any war and
30instead allows the exemption for organizations composed of
31veterans.
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