Bill Text: IA HF207 | 2023-2024 | 90th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: A bill for an act relating to the assessment and taxation of certain sanitary sewage and storm water drainage property and including effective date and retroactive applicability provisions. (Formerly HSB 64.) Effective date: 05/01/2024. Applicability date: 01/01/2024.
Spectrum: Committee Bill
Status: (Passed) 2024-05-07 - Fiscal note. [HF207 Detail]
Download: Iowa-2023-HF207-Introduced.html
Bill Title: A bill for an act relating to the assessment and taxation of certain sanitary sewage and storm water drainage property and including effective date and retroactive applicability provisions. (Formerly HSB 64.) Effective date: 05/01/2024. Applicability date: 01/01/2024.
Spectrum: Committee Bill
Status: (Passed) 2024-05-07 - Fiscal note. [HF207 Detail]
Download: Iowa-2023-HF207-Introduced.html
House
File
207
-
Introduced
HOUSE
FILE
207
BY
COMMITTEE
ON
WAYS
AND
MEANS
(SUCCESSOR
TO
HSB
64)
A
BILL
FOR
An
Act
relating
to
the
assessment
and
taxation
of
certain
1
sanitary
sewage
and
storm
water
drainage
property
and
2
including
effective
date
and
retroactive
applicability
3
provisions.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
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Section
1.
Section
427.1,
Code
2023,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
42.
Sanitary
sewage
or
storm
water
drainage
3
property.
Property
owned
or
operated
by
a
public
utility,
as
4
defined
in
section
476.1,
subsection
3,
that
is
directly
and
5
primarily
used
for
the
purposes
specified
under
section
476.1,
6
subsection
3,
paragraph
“d”
.
7
Sec.
2.
CHAPTER
476
UTILITY
TARIFFS.
Each
public
utility,
8
as
defined
in
section
476.1,
subsection
3,
that
owns
or
9
operates
property
exempted
from
tax
under
this
Act
for
the
10
assessment
year
beginning
January
1,
2023,
shall
file
revised
11
tariffs
under
chapter
476
on
or
before
October
1,
2023,
12
to
reflect
the
exemption
provided
under
this
Act
and,
if
13
applicable,
provide
a
credit
to
ratepayers
for
the
change
in
14
charged
rates
during
the
applicable
time
period.
15
Sec.
3.
IMPLEMENTATION.
Section
25B.7
shall
not
apply
to
16
this
Act.
17
Sec.
4.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
18
importance,
takes
effect
upon
enactment.
19
Sec.
5.
RETROACTIVE
APPLICABILITY.
This
Act
applies
20
retroactively
to
assessment
years
beginning
on
or
after
January
21
1,
2023.
22
EXPLANATION
23
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
24
the
explanation’s
substance
by
the
members
of
the
general
assembly.
25
This
bill
amends
Code
section
427.1
to
establish
a
property
26
tax
exemption
for
property
owned
or
operated
by
a
public
27
utility
that
is
directly
and
primarily
used
for
furnishing
28
sanitary
sewage
or
storm
water
drainage
disposal
by
piped
29
collection
system
to
the
public
for
compensation.
Under
the
30
bill,
“public
utility”
means
the
same
as
defined
in
Code
31
section
476.1.
Under
Code
section
421.17,
the
director
of
32
revenue
has
the
authority
to
issue
rules
as
are
necessary
to
33
provide
for
the
uniform
application
of
the
exemptions
provided
34
in
Code
section
427.1
in
all
assessor
jurisdictions
in
the
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state.
1
The
bill
requires
public
utilities
that
own
or
operate
the
2
property
exempted
under
the
bill
to
file
revised
tariffs
under
3
Code
chapter
476
on
or
before
October
1,
2023,
to
reflect
the
4
exemption
in
the
bill
and,
if
applicable,
provide
a
credit
to
5
ratepayers.
6
The
bill
makes
inapplicable
Code
section
25B.7.
Code
7
section
25B.7
provides
that
for
a
property
tax
credit
or
8
exemption
enacted
on
or
after
January
1,
1997,
if
a
state
9
appropriation
made
to
fund
the
credit
or
exemption
is
not
10
sufficient
to
fully
fund
the
credit
or
exemption,
the
political
11
subdivision
shall
be
required
to
extend
to
the
taxpayer
only
12
that
portion
of
the
credit
or
exemption
estimated
by
the
13
department
of
revenue
to
be
funded
by
the
state
appropriation.
14
The
bill
takes
effect
upon
enactment
and
applies
15
retroactively
to
assessment
years
beginning
on
or
after
January
16
1,
2023.
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