IA
Iowa Senate Bill SF132

Iowa 2023-2024 Regular Session

Iowa Senate Bill SF132

Introduced
1/25/23  
Introduced
1/25/23  

Caption

A bill for an act relating to the assessment and taxation of certain sanitary sewage and storm water drainage property and including applicability provisions.

Impact

The bill, if passed, will take effect for assessment years starting on January 1, 2024. It is expected to relieve some financial burden from public utilities, making it easier for them to manage their expenses related to sewage and drainage services. Supporters argue that this can lead to more efficient management of wastewater and stormwater systems, potentially resulting in improved public health and environmental conditions. However, the exemption may also lead to reductions in expected tax revenues for local governments, raising concerns about the fiscal implications for public services funded through property taxes.

Summary

Senate File 132 is a legislative proposal aimed at amending existing property tax laws in Iowa specifically related to sanitary sewage and storm water drainage properties. The bill introduces an exemption for property owned or operated by public utilities that are directly and primarily used for providing sanitary sewage or storm water drainage services. This amendment is contained within Code section 427.1 and seeks to formalize the definitions and regulations applicable to these utilities, thereby impacting their operational costs and taxation structures.

Contention

The proposal may spark debate among various stakeholders. Advocates for the bill argue that the property tax exemption will enable public utilities to reinvest savings into infrastructure improvements or service expansions. On the other hand, opponents may express concerns about the loss of revenue for local governments, which could lead to challenges in funding essential public services. The pivotal discussions surrounding this bill will likely revolve around finding balance between promoting utility efficiency and maintaining local government funding.

Companion Bills

IA HSB64

Related A bill for an act relating to the assessment and taxation of certain sanitary sewage and storm water drainage property and including applicability provisions.(See HF 207.)

IA HF207

Similar To A bill for an act relating to the assessment and taxation of certain sanitary sewage and storm water drainage property and including effective date and retroactive applicability provisions. (Formerly HSB 64.) Effective date: 05/01/2024. Applicability date: 01/01/2024.

Previously Filed As

IA HSB64

A bill for an act relating to the assessment and taxation of certain sanitary sewage and storm water drainage property and including applicability provisions.(See HF 207.)

IA HF207

A bill for an act relating to the assessment and taxation of certain sanitary sewage and storm water drainage property and including effective date and retroactive applicability provisions. (Formerly HSB 64.) Effective date: 05/01/2024. Applicability date: 01/01/2024.

IA SF2086

A bill for an act exempting certain structures from inclusion in property assessments, and including effective date and retroactive applicability provisions.

IA HSB224

A bill for an act relating to property taxation for commercial child care centers and facilities and including effective date, applicability, and retroactive applicability provisions.(See HF 668.)

IA HF353

A bill for an act relating to levee and drainage districts by establishing certain definitions and establishing an exemption for certain property classified as agricultural based on levee and drainage district assessments. (Formerly HSB 66.)

IA HSB67

A bill for an act relating to the assessment of property containing certain aboveground tanks and including applicability provisions.(See HF 206.)

IA HF206

A bill for an act relating to the assessment of property containing certain aboveground storage tanks and including effective date and retroactive applicability provisions.(Formerly HSB 67.)

IA HSB65

A bill for an act relating to the determination of market value for property tax assessment purposes and including applicability provisions.

IA HF668

A bill for an act relating to property taxation for commercial child care centers and facilities and including effective date, applicability, and retroactive applicability provisions.(Formerly HSB 224.)

IA HSB66

A bill for an act establishing an exemption for certain property classified as agricultural based on levee and drainage district assessments.(See HF 353.)

Similar Bills

No similar bills found.