Bill Text: IA SF103 | 2015-2016 | 86th General Assembly | Introduced

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Bill Title: A bill for an act relating to the disabled veteran homestead tax credit by modifying eligibility criteria and including effective date and applicability provisions.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-02-03 - Subcommittee, Quirmbach, Anderson, and Bolkcom. S.J. 207. [SF103 Detail]

Download: Iowa-2015-SF103-Introduced.html

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Senate File 103 - Introduced




                                 SENATE FILE       
                                 BY  ANDERSON

                                      A BILL FOR

  1 An Act relating to the disabled veteran homestead tax credit by
  2    modifying eligibility criteria and including effective date
  3    and applicability provisions.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
    TLSB 1888XS (2) 86
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PAG LIN



  1  1    Section 1.  Section 425.15, subsection 1, unnumbered
  1  2 paragraph 1, Code 2015, is amended to read as follows:
  1  3    If the owner of a homestead allowed a credit under this
  1  4 chapter is any of the following, the credit allowed on the
  1  5 homestead from the homestead credit fund shall be the entire
  1  6 amount a percentage of the tax levied on the homestead that is
  1  7 equivalent to the veteran's service=connected disability rating
  1  8 percentage:
  1  9    Sec. 2.  Section 425.15, subsection 1, paragraphs b and c,
  1 10 Code 2015, are amended to read as follows:
  1 11    b.  A veteran as defined in section 35.1 with a
  1 12 service=connected disability rating of one hundred percent, as
  1 13 certified by the United States department of veterans affairs.
  1 14    c.   A former member of the national guard of any state
  1 15 who otherwise meets the service requirements of section 35.1,
  1 16 subsection 2, paragraph "b", subparagraph (2) or (7), with a
  1 17 service=connected disability rating of one hundred percent, as
  1 18 certified by the United States department of veterans affairs.
  1 19    Sec. 3.  Section 425.15, subsection 3, Code 2015, is amended
  1 20 by striking the subsection and inserting in lieu thereof the
  1 21 following:
  1 22    3.  If a veteran's service=connected disability rating
  1 23 percentage changes, the veteran shall provide written notice to
  1 24 the assessor by July 1 following the date on which the rating
  1 25 percentage is changed.
  1 26    Sec. 4.  EFFECTIVE UPON ENACTMENT.  This Act, being deemed of
  1 27 immediate importance, takes effect upon enactment.
  1 28    Sec. 5.  APPLICABILITY.  This Act applies to applications for
  1 29 the homestead credit under chapter 425 filed on or after the
  1 30 effective date of this Act.
  1 31                           EXPLANATION
  1 32 The inclusion of this explanation does not constitute agreement with
  1 33 the explanation's substance by the members of the general assembly.
  1 34    Current Code section 425.15 provides a homestead credit to
  1 35 the owner of a homestead for the full amount of tax levied
  2  1 if the owner is any of the following: (1) a veteran of any
  2  2 of the military forces of the United States who acquired the
  2  3 homestead under specified federal programs; (2) a veteran
  2  4 with a service=connected disability rating of 100 percent;
  2  5 (3) a former member of the national guard of any state who
  2  6 meets specified service requirements with a service=connected
  2  7 disability rating of 100 percent; or (4) an individual who is a
  2  8 surviving spouse or a child and who is receiving dependency and
  2  9 indemnity compensation.
  2 10    This bill modifies the eligibility criteria for the
  2 11 credit by removing the requirement that the veteran's
  2 12 service=connected disability rating be 100 percent and instead
  2 13 provides that the credit allowed on the homestead shall
  2 14 be a percentage of the tax levied on the homestead that is
  2 15 equivalent to the veteran's service=connected disability rating
  2 16 percentage.
  2 17    The bill requires a veteran receiving the credit to provide
  2 18 written notice to the assessor by July 1 if a veteran's
  2 19 service=connected disability rating percentage changes.
  2 20    The bill strikes a provision that makes recipients of the
  2 21 disabled veteran homestead credit ineligible for other property
  2 22 tax exemptions available to veterans.
  2 23    The bill takes effect upon enactment and applies to
  2 24 applications for the homestead credit under Code chapter 425
  2 25 filed on or after the effective date of the bill.
       LSB 1888XS (2) 86
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