Bill Text: IA SF132 | 2023-2024 | 90th General Assembly | Introduced
Bill Title: A bill for an act relating to the assessment and taxation of certain sanitary sewage and storm water drainage property and including applicability provisions.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced - Dead) 2023-02-16 - Fiscal note. [SF132 Detail]
Download: Iowa-2023-SF132-Introduced.html
Senate
File
132
-
Introduced
SENATE
FILE
132
BY
GRUENHAGEN
,
WEBSTER
,
LOFGREN
,
and
COURNOYER
A
BILL
FOR
An
Act
relating
to
the
assessment
and
taxation
of
certain
1
sanitary
sewage
and
storm
water
drainage
property
and
2
including
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
1203SS
(4)
90
md/jh
S.F.
132
Section
1.
Section
427.1,
Code
2023,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
42.
Sanitary
sewage
or
storm
water
drainage
3
property.
Property
owned
or
operated
by
a
public
utility,
as
4
defined
in
section
476.1,
subsection
3,
that
is
directly
and
5
primarily
used
for
the
purposes
specified
under
section
476.1,
6
subsection
3,
paragraph
“d”
.
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
This
bill
amends
Code
section
427.1
to
establish
a
property
13
tax
exemption
for
property
owned
or
operated
by
a
public
14
utility
that
is
directly
and
primarily
used
for
furnishing
15
sanitary
sewage
or
storm
water
drainage
disposal
by
piped
16
collection
system
to
the
public
for
compensation.
Under
the
17
bill,
“public
utility”
means
the
same
as
defined
in
Code
18
section
476.1.
Under
Code
section
421.17,
the
director
of
19
revenue
has
the
authority
to
issue
rules
as
are
necessary
to
20
provide
for
the
uniform
application
of
the
exemptions
provided
21
in
Code
section
427.1
in
all
assessor
jurisdictions
in
the
22
state.
23
The
bill
applies
to
assessment
years
beginning
on
or
after
24
January
1,
2024.
25
-1-
LSB
1203SS
(4)
90
md/jh
1/
1
