1. a. The elderly and disabled property tax credit fund is created. There is appropriated annually from the general fund of the state to the department of revenue to be credited to the elderly and disabled property tax credit fund, from funds not otherwise appropriated, an amount sufficient to implement this subchapter for credits for property taxes due for claimants described in section 425.17, subsection 2, paragraph “a”, subparagraphs (1) and (3), subject to paragraph “b”.

 b. Regardless of the amount of the credit determined under section 425.23, subsection 1, paragraph “c”, the amount paid by the director of revenue to each county treasurer for credits for claimants described under section 425.17, subsection 2, paragraph “a”, subparagraph (3), shall not exceed the amount calculated for the claimant under section 425.23, subsection 1, paragraph “c”, subparagraph (1), and section 25B.7, subsection 1, shall not apply to the amount of the credit in excess of the amount paid by the director of revenue.

Terms Used In Iowa Code 425.39

  • Claimant: means any of the following:
     (1) A person filing a claim for credit under this subchapter who has attained the age of sixty-five years but who has not attained the age of seventy years on or before December 31 of the base year, a person filing a claim for credit or reimbursement under this subchapter who is totally disabled and was totally disabled on or before December 31 of the base year, or a person filing a claim for reimbursement under this subchapter who has attained the age of sixty-five years on or before December 31 of the base year and who is domiciled in this state at the time the claim is filed or at the time of the person's death in the case of a claim filed by the executor or administrator of the claimant's estate. See Iowa Code 425.17
  • Director: means the director of the department of revenue. See Iowa Code 453A.42
  • property: includes personal and real property. See Iowa Code 4.1
  • Property taxes due: means property taxes including any special assessments, but exclusive of delinquent interest and charges for services, due on a claimant's homestead in this state, but includes only property taxes for which the claimant is liable and which will actually be paid by the claimant. See Iowa Code 425.17
  • Rent constituting property taxes paid: means twenty-three percent of the gross rent actually paid in cash or its equivalent during the base year by the claimant or the claimant's household solely for the right of occupancy of their homestead in the base year, and which rent constitutes the basis, in the succeeding year, of a claim for reimbursement under this subchapter by the claimant. See Iowa Code 425.17
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
 2. The elderly and disabled rent reimbursement fund is created. There is appropriated annually from the general fund of the state to the department of human services to be credited to the elderly and disabled rent reimbursement fund, from funds not otherwise appropriated, an amount sufficient to implement this subchapter for reimbursement for rent constituting property taxes paid for claimants described in section 425.17, subsection 2, paragraph “a”, subparagraph (1).
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