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House
File
2223
-
Introduced
HOUSE
FILE
2223
BY
JACOBY
,
B.
MEYER
,
LEVIN
,
WILBURN
,
WICHTENDAHL
,
McBURNEY
,
BAGNIEWSKI
,
MATSON
,
OLSON
,
GOSA
,
BROWN-POWERS
,
EHLERT
,
COOLING
,
GAINES
,
WILSON
,
KRESSIG
,
and
GJERDE
A
BILL
FOR
An
Act
relating
to
local
and
state
government
finances
by
1
modifying
provisions
relating
to
homestead
property
tax
2
credits,
providing
a
residential
property
tax
rebate,
3
modifying
provisions
relating
to
retirement
systems,
making
4
appropriations,
and
including
applicability
provisions.
5
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
6
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DIVISION
I
1
ADDITIONAL
HOMESTEAD
PROPERTY
TAX
CREDIT
2
Section
1.
Section
425.17,
subsection
2,
paragraph
a,
Code
3
2026,
is
amended
by
adding
the
following
new
subparagraph:
4
NEW
SUBPARAGRAPH
.
(4)
A
person
filing
a
claim
for
credit
5
under
this
subchapter
who
has
attained
the
age
of
eighteen
6
years
on
or
before
December
31
of
the
base
year,
is
domiciled
7
in
this
state
at
the
time
the
claim
is
filed
or
at
the
time
8
of
the
person’s
death
in
the
case
of
a
claim
filed
by
the
9
executor
or
administrator
of
the
claimant’s
estate,
and
10
if
the
homestead’s
actual
value
did
not
increase
for
the
11
applicable
assessment
year
as
the
result
of
new
construction,
12
improvements,
or
renovations
to
the
property,
beyond
necessary
13
repairs.
14
Sec.
2.
Section
425.23,
subsection
1,
Code
2026,
is
amended
15
by
adding
the
following
new
paragraph:
16
NEW
PARAGRAPH
.
d.
The
tentative
credit
for
a
claimant
17
described
in
section
425.17,
subsection
2,
paragraph
“a”
,
18
subparagraph
(4),
shall
be
the
difference
between
the
actual
19
amount
of
property
taxes
due
on
the
homestead
during
the
20
fiscal
year
next
following
the
base
year
minus
one
hundred
21
four
percent
of
the
actual
amount
of
property
taxes
due
on
the
22
homestead
during
the
fiscal
year
immediately
preceding
such
23
fiscal
year,
but
not
less
than
zero,
if
the
property
taxes
due
24
on
the
homestead
for
both
such
fiscal
years
were
calculated
on
25
an
assessed
valuation
that
was
not
a
partial
assessment.
26
Sec.
3.
IMPLEMENTATION
OF
ACT.
Section
25B.7
shall
not
27
apply
to
this
division
of
this
Act.
28
Sec.
4.
APPLICABILITY.
This
division
of
this
Act
applies
29
to
property
taxes
due
and
payable
in
fiscal
years
beginning
on
30
or
after
July
1,
2027.
31
DIVISION
II
32
HOMESTEAD
CREDIT
AMOUNT
33
Sec.
5.
Section
425.1,
subsection
2,
Code
2026,
is
amended
34
to
read
as
follows:
35
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2.
The
homestead
credit
fund
shall
be
apportioned
each
1
year
so
as
to
give
a
credit
against
the
tax
on
each
eligible
2
homestead
in
the
state
in
an
amount
equal
to
the
actual
levy
on
3
the
first
four
thousand
eight
hundred
fifty
fourteen
thousand
4
five
hundred
fifty
dollars
of
actual
value
for
each
homestead.
5
Sec.
6.
APPLICABILITY.
This
division
of
this
Act
applies
6
to
property
taxes
due
and
payable
in
fiscal
years
beginning
on
7
or
after
July
1,
2027.
8
DIVISION
III
9
ELDERLY
ADDITIONAL
HOMESTEAD
PROPERTY
TAX
CREDIT
10
Sec.
7.
Section
25B.7,
subsection
2,
paragraph
b,
Code
2026,
11
is
amended
to
read
as
follows:
12
b.
Low-income
property
tax
credit
and
elderly
and
disabled
13
property
tax
credit
pursuant
to
sections
425.16
through
425.40
,
14
subject
to
the
limitation
of
section
425.39,
subsection
1
,
15
paragraph
“b”
.
16
Sec.
8.
Section
425.17,
subsection
2,
paragraph
a,
Code
17
2026,
is
amended
to
read
as
follows:
18
a.
“Claimant”
means
any
of
the
following:
19
(1)
A
person
filing
a
claim
for
credit
under
this
subchapter
20
who
has
attained
the
age
of
sixty-five
years
but
who
has
21
not
attained
the
age
of
seventy
years
on
or
before
December
22
31
of
the
base
year,
a
person
filing
a
claim
for
credit
or
23
reimbursement
under
this
subchapter
who
is
totally
disabled
24
and
was
totally
disabled
on
or
before
December
31
of
the
base
25
year,
or
a
person
filing
a
claim
for
reimbursement
under
this
26
subchapter
who
has
attained
the
age
of
sixty-five
years
on
or
27
before
December
31
of
the
base
year
and
who
is
domiciled
in
28
this
state
at
the
time
the
claim
is
filed
or
at
the
time
of
the
29
person’s
death
in
the
case
of
a
claim
filed
by
the
executor
or
30
administrator
of
the
claimant’s
estate.
31
(2)
A
person
filing
a
claim
for
credit
or
reimbursement
32
under
this
subchapter
who
has
attained
the
age
of
twenty-three
33
years
on
or
before
December
31
of
the
base
year
or
was
a
head
34
of
household
on
December
31
of
the
base
year,
as
defined
in
35
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the
Internal
Revenue
Code,
but
has
not
attained
the
age
or
1
disability
status
described
in
subparagraph
(1)
or
the
age
2
status
and
eligibility
criteria
of
subparagraph
(3),
and
is
3
domiciled
in
this
state
at
the
time
the
claim
is
filed
or
at
the
4
time
of
the
person’s
death
in
the
case
of
a
claim
filed
by
the
5
executor
or
administrator
of
the
claimant’s
estate,
and
was
not
6
claimed
as
a
dependent
on
any
other
person’s
tax
return
for
the
7
base
year.
8
(3)
A
person
filing
a
claim
for
credit
under
this
subchapter
9
who
has
attained
the
age
of
seventy
sixty-five
years
on
or
10
before
December
31
of
the
base
year
,
who
has
a
household
income
11
of
less
than
two
hundred
fifty
percent
of
the
federal
poverty
12
level,
as
defined
by
the
most
recently
revised
poverty
income
13
guidelines
published
by
the
United
States
department
of
health
14
and
human
services,
and
is
domiciled
in
this
state
at
the
time
15
the
claim
is
filed
or
at
the
time
of
the
person’s
death
in
the
16
case
of
a
claim
filed
by
the
executor
or
administrator
of
the
17
claimant’s
estate.
18
Sec.
9.
Section
425.39,
subsection
1,
Code
2026,
is
amended
19
to
read
as
follows:
20
1.
a.
The
elderly
and
disabled
property
tax
credit
fund
is
21
created.
There
is
appropriated
annually
from
the
general
fund
22
of
the
state
to
the
department
of
revenue
to
be
credited
to
the
23
elderly
and
disabled
property
tax
credit
fund,
from
funds
not
24
otherwise
appropriated,
an
amount
sufficient
to
implement
this
25
subchapter
for
credits
for
property
taxes
due
for
claimants
26
described
in
section
425.17,
subsection
2
,
paragraph
“a”
,
27
subparagraphs
subparagraph
(1)
and
(3),
subject
to
paragraph
28
“b”
.
There
is
appropriated
annually
from
the
taxpayer
relief
29
fund
under
section
8.57E
to
the
department
of
revenue
to
be
30
credited
to
the
elderly
and
disabled
property
tax
credit
fund,
31
from
funds
not
otherwise
appropriated,
an
amount
sufficient
32
to
implement
this
subchapter
for
credits
for
property
taxes
33
due
for
claimants
described
in
section
425.17,
subsection
2,
34
paragraph
“a”
,
subparagraph
(3).
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b.
Regardless
of
the
amount
of
the
credit
determined
under
1
section
425.23,
subsection
1
,
paragraph
“c”
,
the
amount
paid
by
2
the
director
of
revenue
to
each
county
treasurer
for
credits
3
for
claimants
described
under
section
425.17,
subsection
2
,
4
paragraph
“a”
,
subparagraph
(3),
shall
not
exceed
the
amount
5
calculated
for
the
claimant
under
section
425.23,
subsection
1
,
6
paragraph
“c”
,
subparagraph
(1),
and
section
25B.7,
subsection
7
1
,
shall
not
apply
to
the
amount
of
the
credit
in
excess
of
the
8
amount
paid
by
the
director
of
revenue.
9
Sec.
10.
APPLICABILITY.
The
section
of
this
division
10
of
this
Act
amending
section
425.17
applies
to
claims
under
11
chapter
425,
subchapter
II,
filed
on
or
after
January
1,
2027.
12
DIVISION
IV
13
RESIDENTIAL
PROPERTY
TAX
REBATE
14
Sec.
11.
Section
8.57E,
subsection
2,
paragraph
a,
Code
15
2026,
is
amended
to
read
as
follows:
16
a.
Except
as
otherwise
provided
in
this
section
,
moneys
17
in
the
taxpayer
relief
fund
shall
only
be
used
pursuant
to
18
appropriations
or
transfers
made
by
the
general
assembly
for
19
tax
relief
,
or
reductions
in
income
tax
rates
,
or
rebates
under
20
section
425B.1
.
21
Sec.
12.
NEW
SECTION
.
425B.1
Residential
rebate
——
fund
22
——
appropriation.
23
1.
As
used
in
this
section,
“eligibility
period”
means
each
24
fiscal
year
commencing
with
the
fiscal
year
beginning
July
1,
25
2026,
but
before
the
fiscal
year
beginning
July
1,
2028.
26
2.
a.
A
residential
rebate
fund
is
created
within
the
27
state
treasury
under
the
control
of
the
department
of
revenue.
28
For
each
fiscal
year
in
the
eligibility
period,
there
is
29
appropriated
from
the
taxpayer
relief
fund
under
section
8.57E
30
to
the
department
of
revenue
to
be
credited
to
the
residential
31
rebate
fund,
an
amount
sufficient
to
implement
this
chapter
for
32
the
applicable
fiscal
year.
The
department
of
revenue
shall
33
determine
the
annual
appropriation
amount.
34
b.
Moneys
in
fund
are
to
be
used
during
the
eligibility
35
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period
to
provide
residential
rebate
payments
annually
to
1
qualified
persons
as
described
in
this
section.
2
3.
a.
A
person
owning
a
homestead
qualifies
to
claim
3
a
residential
rebate
in
the
amount
of
one
thousand
dollars
4
for
each
fiscal
year
of
the
eligibility
period
the
person
5
claimed
the
homestead
credit
under
chapter
425,
in
the
previous
6
fiscal
year.
Only
one
rebate
may
be
claimed
for
a
particular
7
homestead
per
fiscal
year.
8
b.
The
department
shall
use
homestead
property
tax
credit
9
records
from
county
treasurers
to
identify
and
pay
residential
10
rebates
to
qualified
owners
under
this
subsection.
11
4.
a.
A
person
renting
a
residence
qualifies
to
claim
a
12
residential
rebate
in
the
amount
of
five
hundred
dollars
if
the
13
residence
is
the
person’s
primary
residence.
Not
more
than
two
14
rebates
may
be
claimed
for
a
particular
rented
residence
per
15
fiscal
year
and
not
more
than
one
rebate
may
be
claimed
per
16
familial
household
per
fiscal
year.
17
b.
A
person
who
wishes
to
qualify
for
the
residential
18
rebate
allowed
under
this
chapter
as
a
renter
shall
obtain
the
19
appropriate
forms
for
claiming
the
rebate
from
the
department
20
of
revenue.
The
person
claiming
the
rebate
shall
file
a
claim
21
form,
including
a
verified
statement
and
designation
of
primary
22
residence,
with
the
department
of
revenue
for
the
year
for
23
which
the
person
is
claiming
the
rebate.
The
claim
shall
be
24
filed
no
later
than
September
1
following
the
fiscal
year
for
25
which
the
person
is
claiming
the
rebate.
26
5.
By
January
1
following
each
fiscal
year
during
the
27
eligibility
period,
the
department
of
revenue
shall
make
the
28
authorized
rebate
payments
to
persons
who
qualify
for
the
29
rebate
under
this
chapter.
30
DIVISION
V
31
RETIREMENT
SYSTEMS
32
Sec.
13.
Section
97A.1,
subsection
10,
Code
2026,
is
amended
33
to
read
as
follows:
34
10.
“Earnable
compensation”
or
“compensation
earnable”
35
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shall
mean
the
regular
compensation
which
a
member
would
1
earn
during
one
year
on
the
basis
of
the
stated
compensation
2
for
the
member’s
rank
or
position
including
compensation
for
3
longevity
,
any
amount
received
for
overtime
compensation,
4
and
the
daily
amount
received
for
meals
under
section
80.6
,
5
and
excluding
any
amount
received
for
overtime
compensation
6
or
other
special
additional
compensation,
other
payments
for
7
meal
expenses,
uniform
cleaning
allowances,
travel
expenses,
8
and
uniform
allowances
and
excluding
any
amount
received
upon
9
termination
or
retirement
in
payment
for
accumulated
sick
leave
10
or
vacation.
11
Sec.
14.
Section
97B.11,
subsection
1,
Code
2026,
is
amended
12
to
read
as
follows:
13
1.
a.
Each
employer
shall
deduct
from
the
wages
of
each
14
member
of
the
retirement
system
a
contribution
in
the
amount
of
15
the
applicable
employee
percentage
of
the
covered
wages
paid
by
16
the
employer
and
such
additional
amount
if
otherwise
required
17
by
law,
until
the
member’s
termination
from
employment.
The
18
contributions
of
the
employer
shall
be
in
the
amount
of
the
19
applicable
employer
percentage
of
the
covered
wages
of
the
20
member
and
such
additional
amount
if
otherwise
required
by
law.
21
b.
Beginning
July
1,
2026,
the
contributions
of
the
22
employer
related
to
a
member
that
is
in
special
service
in
a
23
protection
occupation
as
described
in
section
97B.49C
for
a
24
county
or
as
a
county
sheriff
or
deputy
sheriff
as
described
25
in
section
97B.49C,
shall
be
paid
by
the
treasurer
of
state
26
from
the
general
fund
of
the
state.
For
the
fiscal
year
27
beginning
July
1,
2026,
and
for
each
fiscal
year
thereafter,
28
there
is
appropriated
from
the
general
fund
of
the
state
to
29
the
treasurer
of
state
an
amount
necessary
to
carry
out
the
30
provision
of
this
paragraph.
31
Sec.
15.
Section
411.1,
subsection
10,
Code
2026,
is
amended
32
to
read
as
follows:
33
10.
“Earnable
compensation”
or
“compensation
earnable”
34
shall
mean
the
annual
compensation
which
a
member
receives
35
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for
services
rendered
as
a
police
officer
or
fire
fighter
in
1
the
course
of
employment
with
a
participating
city
and
shall
2
include
any
amount
received
as
overtime
compensation
.
However,
3
the
term
“earnable
compensation”
or
“compensation
earnable”
shall
4
not
include
amounts
received
for
overtime
compensation,
meal
or
5
travel
expenses,
uniform
allowances,
fringe
benefits,
severance
6
pay,
or
any
amount
received
upon
termination
or
retirement
in
7
payment
for
accumulated
sick
leave
or
vacation.
Contributions
8
made
by
a
member
from
the
member’s
earnable
compensation
to
a
9
plan
of
deferred
compensation
shall
be
included
in
earnable
10
compensation.
Other
contributions
made
to
a
plan
of
deferred
11
compensation
shall
not
be
included
except
to
the
extent
12
provided
in
rules
adopted
by
the
board
of
trustees
pursuant
to
13
section
411.5,
subsection
3
.
14
Sec.
16.
Section
411.8,
subsection
1,
paragraphs
a,
b,
c,
15
and
d,
Code
2026,
are
amended
to
read
as
follows:
16
a.
On
account
of
each
member
there
shall
be
paid
annually
17
into
the
fund
by
the
participating
cities
or,
on
or
after
July
18
1,
2026,
by
the
treasurer
of
state
an
amount
equal
to
a
certain
19
percentage
of
the
earnable
compensation
of
the
member
to
be
20
known
as
the
“normal
contribution”.
The
rate
percent
of
such
21
contribution
shall
be
fixed
on
the
basis
of
the
liabilities
of
22
the
retirement
system
as
shown
by
annual
actuarial
valuations.
23
Beginning
July
1,
2026,
that
portion
of
the
normal
contribution
24
otherwise
required
to
be
paid
by
a
participating
city
into
the
25
fund
shall
be
paid
by
the
treasurer
of
state
from
the
general
26
fund
of
the
state.
For
the
fiscal
year
beginning
July
1,
2026,
27
and
for
each
fiscal
year
thereafter,
there
is
appropriated
from
28
the
general
fund
of
the
state
to
the
treasurer
of
state
an
29
amount
necessary
to
carry
out
the
provision
of
this
paragraph
30
“a”
.
31
b.
(1)
On
the
basis
of
the
actuarial
methods
and
32
assumptions,
rate
of
interest,
and
of
the
mortality,
33
interest
and
other
tables
adopted
by
the
system,
the
actuary
34
engaged
by
the
system
to
make
each
valuation
required
by
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this
chapter
pursuant
to
the
requirements
of
section
411.5
,
1
shall
immediately
after
making
such
valuation,
determine
2
the
normal
contribution
rate.
Except
as
otherwise
provided
3
in
this
lettered
paragraph,
the
“normal
contribution
rate”
4
shall
be
the
rate
percent
of
the
earnable
compensation
of
all
5
members
equal
to
the
rate
required
by
the
system
to
discharge
6
its
liabilities,
stated
as
a
percentage
of
the
earnable
7
compensation
of
all
members,
and
reduced
by
the
employee
8
contribution
rate
provided
in
paragraph
“f”
of
this
subsection
9
and
the
contribution
rate
representing
any
state
appropriation
10
made
.
However,
the
normal
contribution
rate
shall
not
be
less
11
than
seventeen
percent.
12
(2)
The
normal
contribution
rate
shall
be
determined
by
the
13
actuary
after
each
valuation.
14
c.
The
total
amount
payable
in
each
year
to
the
fund
15
shall
be
not
less
than
the
rate
percent
known
as
the
normal
16
contribution
rate
of
the
total
compensation
earnable
by
all
17
members
during
the
year,
but
the
aggregate
payment
by
the
18
participating
cities
or
treasurer
of
state,
as
applicable,
must
19
be
sufficient
when
combined
with
the
amount
in
the
fund
to
20
provide
the
pensions
and
other
benefits
payable
out
of
the
fund
21
during
the
then
current
year.
22
d.
All
lump-sum
death
benefits
on
account
of
death
in
active
23
service
payable
from
contributions
of
the
said
participating
24
cities
or
the
treasurer
of
state,
as
applicable,
shall
be
paid
25
from
the
fund.
26
EXPLANATION
27
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
28
the
explanation’s
substance
by
the
members
of
the
general
assembly.
29
This
bill
relates
to
local
and
state
government
finances
30
by
modifying
provisions
relating
to
homestead
property
tax
31
credits,
providing
a
residential
property
tax
rebate,
and
32
modifying
provisions
relating
to
the
municipal
fire
and
police
33
retirement
system.
34
DIVISION
I
——
ADDITIONAL
HOMESTEAD
PROPERTY
TAX
CREDIT.
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The
bill
authorizes
a
homestead
property
tax
credit
based
1
on
increases
in
the
amount
of
property
taxes
due.
The
bill
2
establishes
a
category
of
eligible
claimants
for
an
additional
3
homestead
credit
for
persons
18
years
of
age
and
older
if
4
their
homestead’s
actual
value
did
not
increase
as
the
result
5
of
new
construction,
improvements,
or
renovations
to
the
6
property,
beyond
necessary
repairs.
The
amount
of
the
credit
7
for
such
a
homestead
is
the
difference
between
the
actual
8
amount
of
property
taxes
otherwise
due
on
the
homestead
for
the
9
applicable
fiscal
year
minus
104
percent
of
the
actual
amount
10
of
property
taxes
due
on
the
homestead
during
the
immediately
11
preceding
fiscal
year,
but
not
less
than
zero,
if
the
property
12
taxes
due
on
the
homestead
for
both
such
fiscal
years
were
13
calculated
on
an
assessed
valuation
that
was
not
a
partial
14
assessment.
15
Code
section
25B.7
provides
that
for
a
property
tax
credit
16
or
exemption
enacted
on
or
after
January
1,
1997,
if
a
state
17
appropriation
made
to
fund
the
credit
or
exemption
is
not
18
sufficient
to
fully
fund
the
credit
or
exemption,
the
political
19
subdivision
shall
be
required
to
extend
to
the
taxpayer
only
20
that
portion
of
the
credit
or
exemption
estimated
by
the
21
department
of
revenue
to
be
funded
by
the
state
appropriation.
22
The
bill
makes
Code
section
25B.7
inapplicable
to
this
23
division.
24
The
division
applies
to
property
taxes
due
and
payable
in
25
fiscal
years
beginning
on
or
after
July
1,
2027.
26
DIVISION
II
——
HOMESTEAD
CREDIT
AMOUNT.
Current
Code
27
section
425.1
provides
that
the
homestead
credit
fund
shall
28
be
apportioned
each
year
so
as
to
give
a
credit
against
the
29
property
tax
on
each
eligible
homestead
in
the
state
in
an
30
amount
equal
to
the
actual
levy
on
the
first
$4,850
of
actual
31
value
for
each
homestead.
The
bill
increases
the
amount
of
32
credit
so
as
to
give
a
credit
in
an
amount
equal
to
the
actual
33
levy
on
the
first
$14,550
of
actual
value
for
each
homestead.
34
This
division
applies
to
property
taxes
due
and
payable
in
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fiscal
years
beginning
on
or
after
July
1,
2027.
1
DIVISION
III
——
ELDERLY
ADDITIONAL
HOMESTEAD
PROPERTY
2
TAX
CREDIT.
The
bill
modifies
the
eligibility
for
and
the
3
calculation
of
the
amount
of
the
additional
homestead
property
4
tax
credit
under
Code
chapter
425,
subchapter
II,
for
certain
5
claimants.
6
Under
current
law,
a
person
filing
a
claim
for
the
property
7
tax
credit
who
is
at
least
65
years
of
age,
meets
certain
8
income
requirements,
and
does
not
meet
other
age
and
income
9
eligibility
criteria,
is
eligible
for
a
credit
based
on
income
10
equal
to
specified
percentages
of
property
taxes
due
under
11
the
schedule
in
Code
section
425.23(1)(a),
but
not
to
exceed
12
$1,000.
However,
if
the
person
filing
a
claim
for
the
property
13
tax
credit
is
at
least
70
years
of
age
and
has
a
household
14
income
of
less
than
250
percent
of
the
federal
poverty
level,
15
the
tentative
credit
amount
is
equal
to
the
greater
of
the
16
following:
(1)
the
amount
of
the
credit
as
calculated
under
17
the
schedule
of
credit
amounts
specified
in
Code
section
18
425.23(1)(a)
as
if
the
claimant
were
an
eligible
claimant
for
19
a
credit
under
that
provision;
and
(2)
the
difference
between
20
the
actual
amount
of
property
taxes
due
on
the
homestead
during
21
the
applicable
fiscal
year
minus
the
actual
amount
of
property
22
taxes
due
on
the
homestead
based
on
a
full
assessment
during
23
the
first
fiscal
year
for
which
the
claimant
filed
for
a
credit
24
calculated
under
the
Code
chapter
and
if
the
claimant
has
filed
25
for
the
credit
for
each
of
the
subsequent
fiscal
years
after
26
the
first
credit
claimed.
27
The
bill
modifies
the
eligibility
for
the
credit
under
28
current
law
available
to
claimants
who
have
reached
the
age
29
of
70
with
a
household
income
of
less
than
250
percent
of
the
30
federal
poverty
level
to
include
claimants
who
have
reached
the
31
age
of
65
regardless
of
income
level.
32
Under
current
law,
an
amount
sufficient
to
implement
the
33
elderly
and
disabled
property
tax
credit
is
appropriated
34
annually
from
the
state
general
fund
to
the
elderly
and
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disabled
property
tax
credit
fund.
The
bill
instead
1
appropriates
annually
an
amount
sufficient
to
implement
the
2
elderly
and
disabled
property
tax
credit,
as
amended
in
the
3
bill,
for
claimants
65
years
of
age
or
older
from
the
taxpayer
4
relief
fund
to
the
elderly
and
disabled
property
tax
credit
5
fund.
6
The
section
of
the
division
of
the
bill
amending
Code
section
7
425.17
applies
to
claims
under
Code
chapter
425,
subchapter
II,
8
filed
on
or
after
January
1,
2027.
9
DIVISION
IV
——
RESIDENTIAL
PROPERTY
TAX
REBATE.
The
bill
10
creates
a
residential
rebate
program
for
residential
owners
and
11
renters.
12
The
bill
creates
a
residential
rebate
fund
(fund)
under
the
13
control
of
the
department
of
revenue
(DOR).
For
each
fiscal
14
year
specified
in
the
eligibility
period,
there
is
appropriated
15
from
the
taxpayer
relief
fund
to
the
DOR
to
be
credited
to
the
16
fund,
an
amount
sufficient
to
implement
this
division
of
the
17
bill.
18
The
bill
defines
“eligibility
period”
to
mean
each
fiscal
19
year
commencing
with
the
fiscal
year
beginning
July
1,
2026,
20
but
before
the
fiscal
year
beginning
July
1,
2028.
21
The
bill
specifies
a
person
owning
a
homestead
qualifies
to
22
claim
a
residential
rebate
in
the
amount
of
$1,000
for
each
23
fiscal
year
of
the
eligibility
period
the
person
claimed
the
24
homestead
credit
under
Code
chapter
425.
Only
one
rebate
may
25
be
claimed
for
a
particular
homestead
per
fiscal
year.
26
The
bill
specifies
a
person
renting
a
residence
qualifies
27
to
claim
an
annual
residential
rebate
in
the
amount
of
$500
28
if
the
residence
is
the
person’s
primary
residence
during
a
29
fiscal
year
during
the
eligibility
period.
The
bill
creates
a
30
process
for
persons
renting
to
submit
the
application
for
the
31
residential
rebate.
Not
more
than
two
rebates
may
be
claimed
32
for
a
particular
rented
residence
per
fiscal
year
and
not
more
33
than
one
rebate
may
be
claimed
per
familial
household
per
34
fiscal
year.
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By
January
1
following
each
fiscal
year
during
the
1
eligibility
period,
DOR
shall
make
the
authorized
payment
2
amount
of
$1,000
or
$500,
as
applicable,
to
persons
who
qualify
3
for
the
rebate.
4
DIVISION
V
——
RETIREMENT
SYSTEMS.
Code
chapter
411
5
establishes
a
municipal
police
officer
and
fire
fighter
6
retirement
system,
funded
through
a
combination
of
7
contributions
from
participating
cities
and
such
officers
and
8
fire
fighters
who
are
members
of
the
system.
The
bill
provides
9
that
beginning
July
1,
2026,
that
portion
of
the
normal
10
contribution
otherwise
required
to
be
paid
by
a
participating
11
city
employer
into
the
fund
shall
be
paid
by
the
treasurer
12
of
state
from
the
general
fund
of
the
state.
The
bill
13
appropriates
for
the
fiscal
year
beginning
July
1,
2026,
and
14
for
each
fiscal
year
thereafter,
from
the
general
fund
of
the
15
state
to
the
treasurer
of
state
an
amount
necessary
to
make
all
16
such
applicable
employer
contributions.
The
bill
makes
similar
17
changes
and
appropriations
in
Code
section
97B.11
governing
18
the
contributions
of
the
employer
on
or
after
July
1,
2026,
19
under
the
Iowa
public
employees’
retirement
system
related
to
a
20
member
that
is
in
special
service
in
a
protection
occupation
as
21
described
in
Code
section
97B.49C
for
a
county
or
as
a
county
22
sheriff
or
deputy
sheriff
as
described
in
Code
section
97B.49C.
23
The
bill
relates
to
the
definition
of
“earnable
24
compensation”
under
the
Iowa
department
of
public
safety
peace
25
officers’
retirement,
accident,
and
disability
system
(Code
26
chapter
97A)
and
the
statewide
fire
and
police
retirement
27
system
(Code
chapter
411)
by
including
any
amount
received
28
as
overtime
compensation
in
the
definition
of
“earnable
29
compensation”.
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