General Assembly: 81 (2005 Regular GA) - Chapter 25 - Utility replacement tax task force


Published: 2005-04-13

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87 LAWS OF THE EIGHTY-FIRST G.A., 2005 SESSION CH. 26

CH. 25CH. 25

CHAPTER 25

UTILITY REPLACEMENT TAX TASK FORCE

H.F. 187

AN ACT relating to the utility replacement tax task force.

Be It Enacted by the General Assembly of the State of Iowa:

Section 1. Section 437A.15, subsection 7, Code 2005, is amended to read as follows: 7. The department of management, in consultation with the department of revenue, shall

coordinate the utility replacement tax task force and provide staffing assistance to the task force. It is the intent of the general assembly that the task force include representatives of the department of management, department of revenue, electric companies, natural gas compa- nies, municipal utilities, electric cooperatives, counties, cities, school boards, and industrial, commercial, and residential consumers, and other appropriate stakeholders. The director of the department of management and the director of revenue shall serve as cochairpersons of the task force. The task force shall study the effects of the replacement tax on local taxing authorities, local

taxing districts, consumers, and taxpayers and the department of management shall report to the general assembly by January 1 of each year through January 1, 2005, the results of the study and the specific recommendations of the task force formodifications to the replacement tax, if any, which will further the purposes of tax neutrality for local taxing authorities, local taxingdistricts, taxpayers, and consumers, consistentwith the stated purposes of this chapter. The department of management shall also report to the legislative council by November 15 of each year through 2004, the status of the task force study and any recommendations through January 1, 2007. If the task force recommends modifications to the replacement tax that will further the purposes of tax neutrality for local taxing authorities, local taxing districts, taxpay- ers, and consumers, consistent with the stated purposes of this chapter, the department of management shall transmit those recommendations to the general assembly.

Approved April 13, 2005

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CH. 26CH. 26

CHAPTER 26

TITLE GUARANTY PROGRAM — MORTGAGE RELEASES — ABSTRACTOR CERTIFICATIONS

H.F. 332

AN ACT allowing certain abstractors to request a mortgage release.

Be It Enacted by the General Assembly of the State of Iowa:

Section 1. Section 16.92, subsection 1, paragraph g, Code 2005, is amended to read as fol- lows: g. “Real estate lender or closer” means a person licensed to regularly lend moneys to be se-

cured by a mortgage on real property in this state, a licensed real estate broker, or a licensed attorney, or a participating abstractor.