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Iowa Legislative Update - February 15, 2012

posted Feb 15, 2012, 9:59 AM by Josh Hibben
Here’s the issues that IAR is following closely this session; and which we’ll discuss with legislators at the Bus-In Day on February 21. See the most recent IAR Legislative Hill Notes at this link.
Also, full bills can be viewed at this link. Type the bill you are looking for in the search box on the left. For example, for House Study Bill 572 type in HSB572.
House Study Bill 572/Senate Study Bill 3064-Auctioneer Real Estate Licensing. This legislation will require an auctioneer who conducts real property auctions to obtain a real estate license. IAR is actively supporting this legislation.
House File 496-Levee or Drainage District Disclosure. This legislation would mandate that the seller's disclosure form include whether the property is located within a levee or drainage district, and would also require that prior to the land being transferred, this notice would be delivered to an attorney or abstractor preparing the abstract of title. The IAR opposed this legislation as it was originally written. The bill was amended in committee recently. IAR will continue to monitor this legislation.
House Study Bill 500/House Study Bill 519 - Property Tax Relief/Reform. The legislature is again discussing ways to reform our property tax system in order to give commercial property tax payers some relief from a higher tax burden. Two bills have been introduced in the House Ways and Means Committee - House Study Bill 500 and House Study Bill 519. See future editions of IAR’s Legislative Hill Notes for more information on all property tax proposals.
Declaration of Value Form Changes. The Department of Revenue notified county assessors and recorders, and various user constituent groups a few weeks ago that the declaration of value forms would be changing. IAR along with the Iowa Bankers Association and the Iowa Bar Association met with the Department to discuss our concerns about the additional information requirements on the new form. As a result of this meeting, the Department of Revenue will rework the forms to remove some of the required information