Bill Text: IA SF2057 | 2023-2024 | 90th General Assembly | Introduced
Bill Title: A bill for an act relating to the maximum amount of property taxes due or rent constituting property taxes paid that may be considered in calculating the elderly and disabled property tax credit or rent reimbursement and including applicability provisions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2024-01-18 - Subcommittee: Dawson, Jochum, and Koelker. S.J. 127. [SF2057 Detail]
Download: Iowa-2023-SF2057-Introduced.html
Senate
File
2057
-
Introduced
SENATE
FILE
2057
BY
ROWLEY
A
BILL
FOR
An
Act
relating
to
the
maximum
amount
of
property
taxes
due
or
1
rent
constituting
property
taxes
paid
that
may
be
considered
2
in
calculating
the
elderly
and
disabled
property
tax
3
credit
or
rent
reimbursement
and
including
applicability
4
provisions.
5
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
6
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S.F.
2057
Section
1.
Section
425.24,
Code
2024,
is
amended
to
read
as
1
follows:
2
425.24
Maximum
property
tax
for
purpose
of
credit
or
3
reimbursement.
4
For
claimants
under
section
425.17,
subsection
2
,
paragraph
5
“a”
,
subparagraphs
(1)
and
(2),
and
for
the
calculation
under
6
section
425.23,
subsection
1
,
paragraph
“c”
,
subparagraph
(1),
7
in
any
case
in
which
property
taxes
due
or
rent
constituting
8
property
taxes
paid
for
any
household
exceeds
one
two
thousand
9
dollars,
the
amount
of
property
taxes
due
or
rent
constituting
10
property
taxes
paid
shall
be
deemed
to
have
been
one
two
11
thousand
dollars
for
purposes
of
this
subchapter
.
12
Sec.
2.
APPLICABILITY.
This
Act
applies
January
1,
2025,
13
for
claims
for
credits
or
reimbursement
filed
under
chapter
14
425,
subchapter
II,
on
or
after
that
date.
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
This
bill
increases
from
$1,000
to
$2,000
the
maximum
amount
19
of
property
taxes
due
or
rent
constituting
property
taxes
paid
20
that
may
be
considered
in
calculating
the
elderly
and
disabled
21
property
tax
credit
or
rent
reimbursement
under
Code
chapter
22
425,
subchapter
II,
for
claimants
other
than
those
70
years
of
23
age
or
older
with
household
income
less
than
250
percent
of
the
24
federal
poverty
level.
25
The
bill
applies
January
1,
2025,
for
claims
for
credits
or
26
reimbursement
filed
under
Code
chapter
425,
subchapter
II,
on
27
or
after
that
date.
28
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