Bill Text: IA SF20 | 2023-2024 | 90th General Assembly | Introduced
Bill Title: A bill for an act modifying provisions relating to the additional property tax credit for elderly persons and including applicability provisions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-01-11 - Subcommittee: Dawson, Koelker, and T. Taylor. S.J. 102. [SF20 Detail]
Download: Iowa-2023-SF20-Introduced.html
Senate
File
20
-
Introduced
SENATE
FILE
20
BY
ZAUN
A
BILL
FOR
An
Act
modifying
provisions
relating
to
the
additional
property
1
tax
credit
for
elderly
persons
and
including
applicability
2
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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Section
1.
Section
425.17,
subsection
2,
paragraph
a,
1
subparagraphs
(1)
and
(3),
Code
2023,
are
amended
to
read
as
2
follows:
3
(1)
A
person
filing
a
claim
for
credit
under
this
subchapter
4
who
has
attained
the
age
of
sixty-five
years
but
who
has
5
not
attained
the
age
of
seventy
years
on
or
before
December
6
31
of
the
base
year,
a
person
filing
a
claim
for
credit
or
7
reimbursement
under
this
subchapter
who
is
totally
disabled
8
and
was
totally
disabled
on
or
before
December
31
of
the
base
9
year,
or
a
person
filing
a
claim
for
reimbursement
under
this
10
subchapter
who
has
attained
the
age
of
sixty-five
years
on
or
11
before
December
31
of
the
base
year
and
who
is
domiciled
in
12
this
state
at
the
time
the
claim
is
filed
or
at
the
time
of
the
13
person’s
death
in
the
case
of
a
claim
filed
by
the
executor
or
14
administrator
of
the
claimant’s
estate.
15
(3)
A
person
filing
a
claim
for
credit
under
this
subchapter
16
who
has
attained
the
age
of
seventy
sixty-five
years
on
or
17
before
December
31
of
the
base
year,
who
has
a
household
income
18
of
less
than
two
hundred
fifty
percent
of
the
federal
poverty
19
level,
as
defined
by
the
most
recently
revised
poverty
income
20
guidelines
published
by
the
United
States
department
of
health
21
and
human
services
whose
homestead
has
an
actual
value
of
five
22
hundred
thousand
dollars
or
less
,
and
who
is
domiciled
in
this
23
state
at
the
time
the
claim
is
filed
or
at
the
time
of
the
24
person’s
death
in
the
case
of
a
claim
filed
by
the
executor
or
25
administrator
of
the
claimant’s
estate.
26
Sec.
2.
APPLICABILITY.
This
Act
applies
to
claims
under
27
chapter
425,
subchapter
II,
filed
on
or
after
January
1,
2024.
28
EXPLANATION
29
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
30
the
explanation’s
substance
by
the
members
of
the
general
assembly.
31
This
bill
modifies
the
eligibility
for
and
the
calculation
32
of
the
amount
of
the
property
tax
credit
under
Code
chapter
33
425,
subchapter
II.
34
Under
current
law,
a
person
filing
a
claim
for
the
property
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tax
credit
who
is
at
least
65
years
of
age,
meets
certain
1
income
requirements,
and
does
not
meet
other
age
and
income
2
eligibility
criteria,
is
eligible
for
a
credit
based
on
income
3
equal
to
specified
percentages
of
property
taxes
due
under
4
the
schedule
in
Code
section
425.23(1)(a),
but
not
to
exceed
5
$1,000.
However,
if
the
person
filing
a
claim
for
the
property
6
tax
credit
is
at
least
70
years
of
age
and
has
a
household
7
income
of
less
than
250
percent
of
the
federal
poverty
level,
8
the
tentative
credit
amount
is
equal
to
the
greater
of
the
9
following:
(1)
the
amount
of
the
credit
as
calculated
under
10
the
schedule
of
credit
amounts
specified
in
Code
section
11
425.23(1)(a)
as
if
the
claimant
was
an
eligible
claimant
for
12
a
credit
under
that
provision;
and
(2)
the
difference
between
13
the
actual
amount
of
property
taxes
due
on
the
homestead
during
14
the
applicable
fiscal
year
minus
the
actual
amount
of
property
15
taxes
due
on
the
homestead
based
on
a
full
assessment
during
16
the
first
fiscal
year
for
which
the
claimant
filed
for
a
credit
17
calculated
under
the
Code
chapter
and
if
the
claimant
has
filed
18
for
the
credit
for
each
of
the
subsequent
fiscal
years
after
19
the
first
credit
claimed.
20
The
bill
modifies
the
eligibility
for
and
calculation
of
21
the
credit
under
current
law
available
to
claimants
who
have
22
reached
the
age
of
65
or
more
by
limiting
the
credit
to
owners
23
whose
homestead
value
is
$500,000
or
less,
by
striking
the
24
maximum
income
level
of
250
percent
of
the
federal
poverty
25
level,
and
by
imposing
the
credit
calculation
under
current
26
law
for
claimants
70
years
of
age
and
over
to
all
claimants
65
27
years
of
age
and
older.
28
The
bill
applies
to
claims
under
Code
chapter
425,
29
subchapter
II,
filed
on
or
after
January
1,
2024.
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