Bill Text: IA SF2046 | 2011-2012 | 84th General Assembly | Introduced
Bill Title: A bill for an act establishing a property tax exemption for property meeting specified energy efficiency and environmental quality standards and including applicability provisions.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-01-30 - Subcommittee, Hogg, Dotzler, and Zaun. S.J. 136. [SF2046 Detail]
Download: Iowa-2011-SF2046-Introduced.html
Senate
File
2046
-
Introduced
SENATE
FILE
2046
BY
HOGG
A
BILL
FOR
An
Act
establishing
a
property
tax
exemption
for
property
1
meeting
specified
energy
efficiency
and
environmental
2
quality
standards
and
including
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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5273XS
(8)
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S.F.
2046
Section
1.
Section
427.1,
Code
Supplement
2011,
is
amended
1
by
adding
the
following
new
subsection:
2
NEW
SUBSECTION
.
38.
Energy-efficient,
sustainable
3
development,
water
saving,
and
environmental
quality
property.
4
a.
For
assessment
years
beginning
on
or
after
January
1,
5
2013,
the
exemption
provided
under
this
subsection
for
each
6
eligible
property
is
limited
to
one
of
the
following:
7
(1)
Two
percent
of
the
amount
of
actual
value
of
the
8
permanent
improvements
to
the
property
if
the
property
was
9
certified
by
the
United
States
green
building
council
during
10
the
previous
five
years
as
meeting
or
exceeding
the
LEED
silver
11
rating.
12
(2)
Five
percent
of
the
amount
of
actual
value
of
the
13
permanent
improvements
to
the
property
if
the
property
was
14
certified
by
the
United
States
green
building
council
during
15
the
previous
five
years
as
meeting
or
exceeding
the
LEED
gold
16
rating.
17
(3)
Ten
percent
of
the
amount
of
actual
value
of
the
18
permanent
improvements
to
the
property
if
the
property
was
19
certified
by
the
United
States
green
building
council
during
20
the
previous
five
years
as
meeting
or
exceeding
the
LEED
21
platinum
rating.
22
b.
For
the
purposes
of
this
subsection:
23
(1)
“LEED
silver
rating”
means
the
United
States
green
24
building
council
leadership
in
energy
and
environmental
design
25
green
building
rating
system,
version
3.0,
referred
to
as
the
26
silver
standard.
27
(2)
“LEED
gold
rating”
means
the
United
States
green
28
building
council
leadership
in
energy
and
environmental
design
29
green
building
rating
system,
version
3.0,
referred
to
as
the
30
gold
standard.
31
(3)
“LEED
platinum
rating”
means
the
United
States
green
32
building
council
leadership
in
energy
and
environmental
design
33
green
building
rating
system,
version
3.0,
referred
to
as
the
34
platinum
standard.
35
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2046
c.
Each
taxpayer
claiming
an
exemption
under
this
subsection
1
shall
file
with
the
assessor
not
later
than
February
1
of
the
2
assessment
year
for
which
the
exemption
is
first
requested,
3
a
statement
upon
forms
to
be
prescribed
by
the
director
of
4
revenue
specifying
the
applicable
LEED
rating
that
has
been
5
certified
for
the
property
during
the
previous
five
years
6
by
the
United
States
green
building
council.
The
statement
7
shall
be
accompanied
by
other
supporting
documentation
of
the
8
certification
as
required
by
the
department
of
revenue.
9
d.
Once
the
exemption
is
granted,
the
exemption
shall
be
10
allowed
for
five
assessment
years
without
further
filing
so
11
long
as
the
permanent
improvements
to
the
property
continue
to
12
meet
the
applicable
LEED
rating
required
for
the
exemption.
13
The
taxpayer
shall
notify
the
assessing
authority
if
during
the
14
five-year
exemption
period,
the
property
ceases
to
meet
the
15
applicable
LEED
rating
required
for
the
exemption.
16
e.
Following
the
expiration
of
the
exemption
under
paragraph
17
“d”
,
the
property
shall
not
be
eligible
for
an
exemption
under
18
this
subsection
in
any
future
assessment
year.
19
Sec.
2.
IMPLEMENTATION.
Section
25B.7
shall
not
apply
to
20
this
Act.
21
Sec.
3.
APPLICABILITY.
This
Act
applies
to
assessment
years
22
beginning
on
or
after
January
1,
2013.
23
EXPLANATION
24
This
bill
establishes
a
property
tax
exemption
for
property
25
meeting
specified
energy
efficiency
and
environmental
quality
26
standards.
For
assessment
years
beginning
on
or
after
January
27
1,
2013,
the
exemption
provided
in
the
bill
for
each
eligible
28
property
is
limited
to
one
of
the
following:
(1)
2
percent
29
of
the
amount
of
actual
value
of
the
permanent
improvements
30
to
the
property
if
the
property
was
certified
by
the
United
31
States
green
building
council
during
the
previous
five
years
32
as
meeting
or
exceeding
the
LEED
silver
rating,
as
defined
33
in
the
bill;
(2)
5
percent
of
the
amount
of
actual
value
of
34
the
permanent
improvements
to
the
property
if
the
property
35
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84
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3
S.F.
2046
was
certified
by
the
United
States
green
building
council
1
during
the
previous
five
years
as
meeting
or
exceeding
the
2
LEED
gold
rating,
as
defined
in
the
bill;
and
(3)
10
percent
3
of
the
amount
of
actual
value
of
the
permanent
improvements
4
to
the
property
if
the
property
was
certified
by
the
United
5
States
green
building
council
during
the
previous
five
years
6
as
meeting
or
exceeding
the
LEED
platinum
rating,
as
defined
7
in
the
bill.
8
The
bill
requires
each
taxpayer
claiming
an
exemption
9
to
file
with
the
assessor
not
later
than
February
1
of
the
10
assessment
year
for
which
the
exemption
is
first
requested,
11
a
statement
upon
forms
to
be
prescribed
by
the
director
of
12
revenue
specifying
the
applicable
LEED
rating
that
has
been
13
certified
by
the
United
States
green
building
council
during
14
the
previous
five
years
for
the
property.
This
statement
must
15
also
be
accompanied
by
other
supporting
documentation
of
the
16
certification
as
required
by
the
department
of
revenue.
17
If
granted,
the
exemption
continues
for
five
assessment
18
years
without
further
filing
as
long
as
the
permanent
19
improvements
to
the
property
continue
to
meet
the
applicable
20
LEED
rating
required
for
the
exemption.
The
taxpayer
is
21
required
to
notify
the
assessing
authority
if
during
the
22
five-year
exemption
period,
the
property
ceases
to
meet
the
23
applicable
LEED
rating
required
for
the
exemption.
24
The
bill
provides
that
following
expiration
of
the
25
exemption,
the
property
is
not
eligible
for
the
exemption
under
26
the
bill
in
any
future
assessment
year.
27
The
bill
provides
that
the
provisions
in
Code
section
25B.7,
28
relating
to
the
obligation
of
the
state
to
reimburse
local
29
jurisdictions
for
property
tax
credits
and
exemptions,
do
not
30
apply
to
the
exemption
in
the
bill.
31
The
bill
applies
to
assessment
years
beginning
on
or
after
32
January
1,
2013.
33
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