Bill Text: IA HSB667 | 2021-2022 | 89th General Assembly | Introduced
Bill Title: A bill for an act relating to the assessment and taxation of wind energy conversion property and including effective date and retroactive applicability provisions.
Spectrum: Committee Bill
Status: (Introduced - Dead) 2022-02-03 - Subcommittee: Hite, Bloomingdale and Kurth. H.J. 183. [HSB667 Detail]
Download: Iowa-2021-HSB667-Introduced.html
House
Study
Bill
667
-
Introduced
HOUSE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
WAYS
AND
MEANS
BILL
BY
CHAIRPERSON
HEIN)
A
BILL
FOR
An
Act
relating
to
the
assessment
and
taxation
of
wind
energy
1
conversion
property
and
including
effective
date
and
2
retroactive
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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Section
1.
Section
427B.26,
subsection
3,
Code
2022,
is
1
amended
to
read
as
follows:
2
3.
a.
The
taxpayer
shall
file
with
the
local
assessor
3
by
February
1
of
the
assessment
year
in
which
the
wind
4
energy
conversion
property
is
first
assessed
for
property
5
tax
purposes,
a
declaration
of
intent
to
have
the
property
6
assessed
at
the
value
determined
under
this
section
in
lieu
7
of
the
valuation
and
assessment
provisions
in
section
441.21,
8
subsection
8
,
paragraphs
“b”
,
“c”
,
and
“d”
,
and
sections
428.24
9
through
428.26
,
428.28
,
and
428.29
.
10
b.
Maintaining,
refurbishing,
or
repowering
wind
energy
11
conversion
property
shall
not
cause
the
wind
energy
conversion
12
property
to
receive
a
new
assessment
schedule
under
subsection
13
2.
14
Sec.
2.
Section
427B.26,
subsection
4,
Code
2022,
is
amended
15
by
adding
the
following
new
paragraph:
16
NEW
PARAGRAPH
.
0b.
“Repowering”
means
the
removal
and
17
replacement
of
components
of
wind
energy
conversion
property.
18
Sec.
3.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
19
importance,
takes
effect
upon
enactment.
20
Sec.
4.
RETROACTIVE
APPLICABILITY.
This
Act
applies
21
retroactively
to
assessment
years
beginning
on
or
after
January
22
1,
2022.
23
EXPLANATION
24
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
25
the
explanation’s
substance
by
the
members
of
the
general
assembly.
26
Code
section
427B.26
governs
the
special
valuation
of
27
wind
energy
conversion
property
for
such
property
covered
28
by
an
ordinance
adopted
by
a
city
council
or
county
board
29
of
supervisors.
The
valuation
of
such
property
increases
30
over
a
period
of
years
until,
for
the
seventh
and
succeeding
31
assessment
years,
the
property
is
assessed
at
30
percent
of
the
32
net
acquisition
cost.
33
This
bill
provides
that
maintaining,
refurbishing,
or
34
repowering
wind
energy
conversion
property
shall
not
cause
35
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_____
the
wind
energy
conversion
property
to
receive
a
new
special
1
valuation
schedule
under
Code
section
427B.26.
The
bill
2
defines
“repowering”
as
the
removal
and
replacement
of
3
components
of
wind
energy
conversion
property.
4
The
bill
takes
effect
upon
enactment
and
applies
5
retroactively
to
assessment
years
beginning
on
or
after
January
6
1,
2022.
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