Bill Text: IA HSB67 | 2023-2024 | 90th General Assembly | Introduced
Bill Title: A bill for an act relating to the assessment of property containing certain aboveground tanks and including applicability provisions.(See HF 206.)
Spectrum: Committee Bill
Status: (Introduced - Dead) 2023-02-06 - Committee report approving bill, renumbered as HF 206. [HSB67 Detail]
Download: Iowa-2023-HSB67-Introduced.html
House
Study
Bill
67
-
Introduced
HOUSE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
WAYS
AND
MEANS
BILL
BY
CHAIRPERSON
KAUFMANN)
A
BILL
FOR
An
Act
relating
to
the
assessment
of
property
containing
1
certain
aboveground
tanks
and
including
applicability
2
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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1206YC
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H.F.
_____
Section
1.
Section
427A.1,
Code
2023,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
6A.
Notwithstanding
the
other
provisions
3
of
this
section,
aboveground
flammable
or
combustible
liquid
4
storage
tanks
of
any
size
that
are
not
attached
within
the
5
meaning
of
subsection
3
shall
not
be
assessed
and
taxed
as
real
6
property.
7
Sec.
2.
APPLICABILITY.
This
Act
applies
to
assessment
years
8
beginning
on
or
after
January
1,
2024.
9
EXPLANATION
10
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
11
the
explanation’s
substance
by
the
members
of
the
general
assembly.
12
Code
section
427A.1
specifies
that
for
the
purposes
of
13
property
taxation
only,
certain
property
shall
be
assessed
14
and
taxed,
unless
otherwise
qualified
for
exemption,
as
real
15
property,
including
buildings,
structures,
or
improvements,
any
16
of
which
are
constructed
on
or
in
the
land,
attached
to
the
17
land,
or
placed
upon
a
foundation
whether
or
not
attached
to
18
the
foundation.
However,
property
is
not
“attached”
if
it
is
19
a
kind
of
property
which
would
ordinarily
be
removed
when
the
20
owner
of
the
property
moves
to
another
location.
21
This
bill
provides
that
aboveground
flammable
or
combustible
22
liquid
storage
tanks
of
any
size
that
would
ordinarily
be
23
removed
when
the
owner
of
the
property
moves
to
another
24
location
shall
not
be
assessed
and
taxed
as
real
property.
25
The
bill
applies
to
assessment
years
beginning
on
or
after
26
January
1,
2024.
27
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1206YC
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