| LAWS OF THE 2001 REGULAR SESSION OF THE SEVENTY-NINTH GENERAL ASSEMBLY OF THE STATE OF IOWA |
Section 1. Section 427.1, Code 2001, is amended by adding the following new subsection:
NEW SUBSECTION. 33. Property owned and operated by an Indian housing authority, as defined in 24 C.F.R. § 950.102, created under Indian law, if a cooperative agreement has been made with the local governing body agreeing to the exemption. The exemption in this subsection is subject to the provisions of subsection 14.
For purposes of this subsection:
a."Indian law" means the code of an Indian tribe recognized as eligible for services provided to Indians by the United States secretary of the interior.
b."Local governing body" means the county board of supervisors if the property is located outside an incorporated city or the governing body of the city in which the property is located.
Sec. 2. IMPLEMENTATION OF ACT. Section 25B.7 does not apply to the property tax exemption provided in section 1 of this Act.
Sec. 3. EFFECTIVE DATE. This Act, being deemed of immediate importance, takes effect upon enactment.
Approved April 23, 2001
Updated: 25-Oct-2001 04:32 PM
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