House File 353 - Reprinted HOUSE FILE 353 BY COMMITTEE ON WAYS AND MEANS (SUCCESSOR TO HSB 66) (As Amended and Passed by the House April 11, 2023 ) A BILL FOR An Act relating to levee and drainage districts by establishing 1 certain definitions and establishing an exemption for 2 certain property classified as agricultural based on levee 3 and drainage district assessments. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 HF 353 (2) 90 md/jh/md
H.F. 353 Section 1. Section 427.1, Code 2023, is amended by adding 1 the following new subsection: 2 NEW SUBSECTION . 42. Certain property classified as 3 agricultural located in a levee and drainage district. For 4 assessment years beginning on or after January 1, 2024, 5 a portion of the actual value of property classified as 6 agricultural, as determined on the basis of productivity and 7 net earning capacity as determined under section 441.21, 8 subsection 1, paragraph e , located in a levee and drainage 9 district under chapter 468, if the district is adjacent to 10 both the Mississippi river and the Iowa river and consists of 11 at least thirty-five thousand acres. The exemption on such 12 property classified as agricultural shall be allowed if the 13 propertys per-acre levee and drainage district taxes assessed 14 under chapter 468 exceed the applicable countys per-acre 15 five-year average levee and drainage district tax amount. The 16 amount of the exemption shall be an amount equal to the number 17 of net acres comprising the property multiplied by the amount 18 by which the propertys per-acre levee and drainage district 19 taxes exceed the countys per-acre five-year average levee 20 and drainage district tax amount divided by seven percent. 21 However, in no case shall the amount of the exemption under 22 this subsection exceed fifty percent of the actual land value 23 of the property. 24 Sec. 2. Section 468.3, Code 2023, is amended by adding the 25 following new subsection: 26 NEW SUBSECTION . 6A. As used in this chapter, the term 27 culvert includes a drain, tile, or tile line. 28 -1- HF 353 (2) 90 md/jh/md 1/ 1