Bills › 90th General Assembly
Relating to the disabled veteran homestead tax credit and including effective date and retroactive applicability provisions
Sponsored by the House Veterans Affairs Committee
Topics:TaxesVeterans & militaryProperty taxesTax credits & incentives
Same legislation: HF 37
Where it is now
- Done: IntroducedJanuary 12, 2023
- Done: SubcommitteeJanuary 12, 2023
- Done: House committeeJanuary 25, 2023
- Stopped: Passes the HouseDied when the General Assembly ended
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The General Assembly adjourned on April 19, 2024. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
15 provides a homestead credit to the owner of a homestead for the full amount of property tax levied if the owner is any of the following: (1) a veteran of any of the military forces of the United States who acquired the homestead under specified federal programs; (2) a veteran with a permanent service-connected disability rating of 100 percent or a permanent and total disability rating based on individual unemployability that is compensated at the 100 percent disability rate; (3) a former member of the national guard of any state who meets specified service requirements with a permanent service-connected disability rating of 100 percent or a permanent and total disability rating based on individual unemployability that is compensated at the 100 percent disability rate; or (4) an individual who is a surviving spouse or a child and who is receiving federal dependency and indemnity compensation.
Read the full explanation
15 that are phased in over a period of years based on the individual’s permanent service-connected disability rating. Under the bill, if the owner of a homestead does not meet the criteria under current law for a disabled veteran homestead tax credit, the amount of the credit allowed on the homestead is the greater of the amount of the regular homestead credit (an amount equal to the actual levy on the first $4,850 of actual value) or an amount equal to a percentage of the entire amount of the tax levied on the homestead that is equivalent to the owner’s service-connected disability rating percentage if the owner is either of the following: (1) a veteran with a permanent service-connected disability rating that is less than 100 percent but equal to or greater than the percentage applicable to the specific year of the phase in; or (2) a former member of the national guard of any state who meets specified service requirements with a permanent service-connected disability rating of less than 100 percent but equal to or greater than the percentage applicable to the specific year of the phase in. The bill takes effect upon enactment and applies retroactively to homestead credit claims filed on or after January 1, 2023, for credits allowed against property taxes due and payable in fiscal years beginning on or after July 1, 2024.
From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text
House subcommittee
Named March 12, 2024. On March 28, 2024 it recommended passage. Vote Total: 3-0.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Fiscal note
The expansion of the Disabled Veteran Tax Credit is projected to result in State General Fund appropriation net increases as shown in Table 2. 9% each year.
- Disabled Veteran Homestead Tax Exemption · February 20, 2023
Nonpartisan cost estimates from the Legislative Services Agency’s Fiscal Services Division. The newest is first. Reading a fiscal note
Iowa Code it changes
Amends§425.15
Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works
Lobbying
6 for · 0 against · 17 undecided · Who →
Family tree
Where this legislation came from and where it went: earlier tries, the versions it moved through this Assembly, and later bills built on it.
90th General Assembly
Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.
Tried before
This idea has been filed in an earlier General Assembly. None got through a chamber.
- HF 2107 Relating to the disabled veteran homestead tax credit and including effective date and ret…89th General Assembly · Renumbered as HF 2287 · same titleCleared committee
- HF 2287 Relating to the disabled veteran homestead tax credit and including effective date and ret…89th General Assembly · Subcommittee recommends passage · same titleCleared committee
Similar bills this General Assembly
- SF 2124 Relating to the disabled veteran homestead tax credit and including effective date and ret…91st General Assembly · In committeeNearly identical
- HF 79 Relating to the disabled veteran homestead tax credit and including effective date and ret…90th General Assembly · In committeeNearly identical
- HSB 231 Relating to the disabled veteran homestead tax credit and including effective date and ret…91st General Assembly · Subcommittee recommends passageVery similar
Matched by the wording of each bill’s explanation, or an identical title. Companion bills and renumbered versions of this bill aren’t listed; they’re the same bill.