Bill Text: IA SSB1255 | 2021-2022 | 89th General Assembly | Introduced
Bill Title: A bill for an act relating to the property tax exemption for fairgrounds and including effective date and retroactive applicability provisions.
Spectrum: Committee Bill
Status: (Introduced - Dead) 2021-03-30 - Subcommittee reassigned: Sinclair, Smith, R., and Taylor, T. [SSB1255 Detail]
Download: Iowa-2021-SSB1255-Introduced.html
Senate
Study
Bill
1255
-
Introduced
SENATE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
WAYS
AND
MEANS
BILL
BY
CHAIRPERSON
DAWSON)
A
BILL
FOR
An
Act
relating
to
the
property
tax
exemption
for
fairgrounds
1
and
including
effective
date
and
retroactive
applicability
2
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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2807XC
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S.F.
_____
Section
1.
Section
427.1,
subsection
39,
Code
2021,
is
1
amended
to
read
as
follows:
2
39.
County
fair
property.
Fairgrounds
Property,
including
3
fairgrounds
,
as
defined
in
section
174.1
,
that
are
owned
by
a
4
county
or
a
fair,
as
defined
in
section
174.1
,
and
fairgrounds,
5
as
defined
in
section
174.1,
owned
by
a
county
.
The
use
of
such
6
property
or
fairgrounds
for
purposes
other
than
a
fair
event,
7
as
defined
in
section
174.1
,
by
the
owner
or
by
a
lessee,
8
including
uses
for
pecuniary
profit,
shall
not
affect
the
9
exemption.
10
Sec.
2.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
11
importance,
takes
effect
upon
enactment.
12
Sec.
3.
RETROACTIVE
APPLICABILITY.
This
Act
applies
13
retroactively
to
assessment
years
beginning
on
or
after
January
14
1,
2020.
15
EXPLANATION
16
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
17
the
explanation’s
substance
by
the
members
of
the
general
assembly.
18
Current
Code
section
427.1(39)
establishes
a
property
tax
19
exemption
for
fairgrounds,
as
defined
in
Code
section
174.1,
20
that
are
owned
by
a
county
or
a
fair,
as
defined
in
Code
section
21
174.1,
and
the
use
of
such
fairgrounds
for
purposes
other
than
22
a
fair
event
by
the
owner
or
by
a
lessee,
including
uses
for
23
pecuniary
profit,
do
not
affect
the
exemption.
24
This
bill
modifies
the
exemption
to
specify
that
property,
25
including
fairgrounds,
owned
by
a
fair
and
fairgrounds
owned
by
26
a
county
qualify
for
the
exemption.
27
The
bill
takes
effect
upon
enactment
and
applies
28
retroactively
to
assessment
years
beginning
on
or
after
January
29
1,
2020.
30
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