Bills › 90th General Assembly
Placing assessment limitations for property tax purposes on commercial child care facilities, and including effective date, applicability, and retroactive applicability provisions
Sponsored by the House Ways and Means Committee
Where it is now
- Done: IntroducedMarch 7, 2024
- Skipped: SubcommitteeSkipped
- Done: House committeeMarch 14, 2024
- Done: Passes the HouseMarch 19, 202494–1
- Stopped: Senate committeeDied when the General Assembly ended
- 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
This bill relates to assessment limitations for property taxation purposes for commercial child care facilities, and includes effective date, applicability, and retroactive applicability provisions.21(5) determines the amount of actual value of commercial property that is subject to property tax. The amount is the sum of the residential assessment limitation to the portion of the property’s value that does not exceed $150,000 plus percent of the property’s value in excess of $150,000. The bill excludes property that is primarily used as a child care facility from the calculation of the actual value of the property.
Read the full explanation
The bill instead specifies that for assessment years beginning on or after January 1, 2024, the amount of actual value used as child care facilities that is subject to tax is equal to the product of the assessment limitation percentage applicable to residential property multiplied by the actual value of the property provided that the property owner has applied for the assessment limitation and the county board of supervisors has allowed such an assessment limitation. The bill establishes application procedures, approval procedures, and recordkeeping procedures for the assessment limitation. The bill makes conforming changes to reflect the child care facility assessment limitation. The bill takes effect upon enactment. The bill applies retroactively to assessment years beginning on or after January 1, 2024, and applies to payments to local governments for fiscal years beginning on or after July 1, 2025.
From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text
Senate subcommittee
Named March 25, 2024. It hasn’t reported yet.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Fiscal note
House File 2655 is estimated to reduce local property tax revenues and, by operation of the School Foundation Aid Formula, increase the total General Fund appropriation. 3 million in FY 2030. 40 of the levy rate applied to the reduced taxable property valuation. 3)$ * In this table, "Centers" refers to commercial child care centers.
- Property Tax, Child Care Facility Valuations · March 13, 2024
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§441.21
Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works
Lobbying
8 for · 0 against · 14 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
Picked up later
Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.
Similar bills
- HF 991 Placing assessment limitations for property tax purposes on commercial child care faciliti…91st General Assembly · Passed HouseNearly identical
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.