Senate Study Bill 1255 - Introduced
SENATE FILE _____
BY (PROPOSED COMMITTEE ON
WAYS AND MEANS BILL BY
CHAIRPERSON DAWSON)
A BILL FOR
1 An Act relating to the property tax exemption for fairgrounds
2 and including effective date and retroactive applicability
3 provisions.
4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
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 S.F. _____
1 Section 1. Section 427.1, subsection 39, Code 2021, is
2 amended to read as follows:
3 39. County fair property. Fairgrounds Property, including
4 fairgrounds, as defined in section 174.1, that are owned by a
5 county or a fair, as defined in section 174.1, and fairgrounds,
6 as defined in section 174.1, owned by a county. The use of such
7 property or fairgrounds for purposes other than a fair event,
8 as defined in section 174.1, by the owner or by a lessee,
9 including uses for pecuniary profit, shall not affect the
10 exemption.
11 Sec. 2. EFFECTIVE DATE. This Act, being deemed of immediate
12 importance, takes effect upon enactment.
13 Sec. 3. RETROACTIVE APPLICABILITY. This Act applies
14 retroactively to assessment years beginning on or after January
15 1, 2020.
16 EXPLANATION
17 The inclusion of this explanation does not constitute agreement with
18 the explanation’s substance by the members of the general assembly.
19 Current Code section 427.1(39) establishes a property tax
20 exemption for fairgrounds, as defined in Code section 174.1,
21 that are owned by a county or a fair, as defined in Code section
22 174.1, and the use of such fairgrounds for purposes other than
23 a fair event by the owner or by a lessee, including uses for
24 pecuniary profit, do not affect the exemption.
25 This bill modifies the exemption to specify that property,
26 including fairgrounds, owned by a fair and fairgrounds owned by
27 a county qualify for the exemption.
28 The bill takes effect upon enactment and applies
29 retroactively to assessment years beginning on or after January
30 1, 2020.
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