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Bill > HF2341
IA HF2341
IA HF2341A bill for an act establishing a partial exemption on property taxes for certain residential properties sold in disaster areas.
summary
Introduced
02/06/2026
02/06/2026
In Committee
02/06/2026
02/06/2026
Crossed Over
Passed
Dead
Introduced Session
91st General Assembly
Bill Summary
A residential property sold by the United States department of housing and urban development (HUD) to an owner who is receiving the homestead tax credit on the residential property shall be partially exempt from taxation if the sale was to provide housing to individuals following a major disaster or disaster emergency and the residential property was located in the major disaster or disaster emergency area. The exemption is for a four-year period beginning with the first full assessment year after the sale. This bill provides an 80 percent exemption on the actual value in the first assessment year, a 60 percent in the second year, a 40 percent in the third year, a 20 percent in the fourth year, and the exemption expires in the fifth year.
AI Summary
This bill establishes a partial property tax exemption for certain residential properties sold by the United States Department of Housing and Urban Development (HUD) in areas affected by major disasters or disaster emergencies. To qualify, the buyer must be receiving the homestead tax credit, which is a credit on property taxes for homeowners who live in their homes. The exemption applies if the sale was intended to provide housing after a disaster and the property was located within the declared disaster area. The exemption is phased out over four years, starting with an 80% exemption in the first full assessment year after the sale, then decreasing to 60%, 40%, and finally 20% in the subsequent years, expiring in the fifth year.
Committee Categories
Budget and Finance
Sponsors (11)
Sean Bagniewski (D)*,
David Blom (R)*,
Daniel Gosa (D)*,
Craig Johnson (R)*,
Megan Jones (R)*,
Elinor Levin (D)*,
David Sieck (R)*,
Brent Siegrist (R)*,
Aime Wichtendahl (D)*,
Craig Williams (R)*,
Devon Wood (R)*,
Last Action
Introduced, referred to Ways and Means. H.J. 228. (on 02/06/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=HF2341 |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/HF2341.html |
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