IA
Iowa House Bill HF37

Iowa 2023-2024 Regular Session

Iowa House Bill HF37

Introduced
1/12/23  
Introduced
1/12/23  

Caption

A bill for an act relating to the disabled veteran homestead tax credit and including effective date and retroactive applicability provisions.(See HF 163.)

Impact

The bill will have a notable impact on property tax laws in Iowa by broadening eligibility for tax credits against property taxes for veterans. It aims to offer financial support to a more extensive group of disabled veterans, thereby acknowledging their service and sacrifice. The law, as amended, will enhance the financial security of these individuals by providing them relief on property taxes, which can alleviate their overall economic burden.

Summary

House File 37 (HF37) amends Iowa's homestead tax credit law specifically for disabled veterans. Currently, the law provides significant property tax relief for veterans with a 100% permanent service-connected disability rating. HF37 expands this benefit to include additional categories of veterans based on their service-connected disability ratings. The new provisions establish a phased approach over several years, allowing veterans with ratings as low as 10% to qualify for a portion of the homestead credit, thus expanding access to more veterans and their families.

Contention

While proponents argue that HF37 is a necessary step to support veterans and their families, there may be concerns regarding the long-term fiscal implications on state revenue from property taxes. Critics could argue that expanding tax credits can strain public funding and reduce the budget available for other vital services. However, supporters emphasize that supporting veterans through tax relief is a moral obligation and a just recognition of their sacrifices.

Latest IA HF37 Activity

View All Events: IA 2023-2024 Regular Session HF37

Companion Bills

IA HF163

Similar To A bill for an act relating to the disabled veteran homestead tax credit and including effective date and retroactive applicability provisions.(Formerly HF 37.)

Previously Filed As

IA HF163

A bill for an act relating to the disabled veteran homestead tax credit and including effective date and retroactive applicability provisions.(Formerly HF 37.)

IA HSB231

A bill for an act relating to the disabled veteran homestead tax credit and including effective date and retroactive applicability provisions.

IA HF79

A bill for an act relating to the disabled veteran homestead tax credit and including effective date and retroactive applicability provisions.

IA HSB313

A bill for an act relating to local government property taxes, financial authority, and budgets, modifying appropriations, and including effective date, applicability, and retroactive applicability provisions.

IA SSB1208

A bill for an act relating to local government property taxes, financial authority, and budgets, modifying appropriations, and including effective date, applicability, and retroactive applicability provisions.

IA HSB328

A bill for an act relating to local government property taxes, financial authority, and budgets, modifying appropriations, and including effective date, applicability, and retroactive applicability provisions.

IA SSB1227

A bill for an act relating to local government property taxes, financial authority, and budgets, modifying appropriations, and including effective date, applicability, and retroactive applicability provisions.(See SF 651.)

IA SF651

A bill for an act relating to local government property taxes, financial authority, and budgets, modifying appropriations, and including effective date, applicability, and retroactive applicability provisions.(Formerly SSB 1227.)

IA SB2298

The homestead credit certification and disabled veterans' credit; to provide for retroactive application; to provide an effective date; and to provide an expiration date.

IA SF29

A bill for an act relating to property tax exemptions by changing the homestead tax exemption to a credit for owners attaining sixty-five years of age and increasing the military service tax exemption, and including effective date and retroactive applicability provisions.

Similar Bills

MI HB4724

Individual income tax: property tax credit; credit for disabled veterans or widow or widower of disabled veterans who rent or lease a homestead; increase. Amends secs. 506, 520, 522 & 530 of 1967 PA 281 (MCL 206.506 et seq.).

IA HSB231

A bill for an act relating to the disabled veteran homestead tax credit and including effective date and retroactive applicability provisions.

IA HF163

A bill for an act relating to the disabled veteran homestead tax credit and including effective date and retroactive applicability provisions.(Formerly HF 37.)

IA HF79

A bill for an act relating to the disabled veteran homestead tax credit and including effective date and retroactive applicability provisions.

MI SB0344

Individual income tax: property tax credit; credit percentages; modify. Amends secs. 508, 510 & 522 of 1967 PA 281 (MCL 206.508 et seq.). TIE BAR WITH: SB 0345'25

TX HJR167

Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of a residence homestead for ad valorem tax purposes to the lesser of the most recent market value of the residence homestead or 115 percent, or a greater percentage, of the appraised value of the residence homestead for the last year in which the residence homestead was appraised for ad valorem tax purposes, to limit the frequency of the reappraisal of a residence homestead for those purposes, and to permit the voters of a county to establish a higher limitation on the maximum appraised value of a residence homestead for those purposes.

MI HB4767

Individual income tax: income; certain references in the income tax act; make gender neutral. Amends secs. 311, 504 & 522 of 1967 PA 281 (MCL 206.311 et seq.). TIE BAR WITH: HJR F'23

ME LD1202

An Act to Increase the Homestead Exemption to $50,000