Utility Replacement Tax Task Force

Background

During the 1998 legislative session, the Iowa General Assembly passed and the Governor signed Senate File 2146, the Property Tax Replacement and Statewide Property Tax Act. The bill replaced the property taxes paid by electric and natural gas utilities on their property with an excise tax associated with the distribution of electricity and natural gas. The bill also created a “statewide property tax” on the real property associated with the electric and natural gas utility companies.