Iowa HF 693: A bill for an act relating to matters under the purview of the utilities division of the department of commerce. (Formerly HF 483, HSB 137.) Effective date: 07/01/2021.

Bill Text

House
File
693
-
Introduced

HOUSE
FILE
693

BY
SIEGRIST

A
BILL
FOR

An
Act
concerning
the
use
of
moneys
in
the
county
endowment
1

fund
for
charitable
organizations
located
in
this
state.
2

BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3

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Section
1.
Section
15E.311,
subsection
4,
paragraph
a,
Code
1

2025,
is
amended
to
read
as
follows:
2

a.
“Charitable
organization”
means
an
organization
located

3

in
this
state
that
is
described
in
section
501(c)(3)
of
the
4

Internal
Revenue
Code
that
is
exempt
from
taxation
under
5

section
501(a)
of
the
Internal
Revenue
Code
or
an
organization
6

located
in
this
state
that
is
established
for
a
charitable
7

purpose.
8

Sec.
2.
Section
633.358,
subsection
2,
unnumbered
paragraph
9

1,
Code
2025,
is
amended
to
read
as
follows:
10

If
a
charitable
organization
,
as
defined
in

section
11

15E.311
,
is
a
beneficiary
of
an
interest
in
property
created
12

by
beneficiary
designation,
that
charitable
organization
may
13

present
an
affidavit
to
the
holder
of
the
property
or
to
any
14

person
with
information
about
the
property
for
the
purpose
of
15

obtaining
the
property
or
information
regarding
the
property.
16

The
affidavit
shall
state
all
of
the
following:
17

Sec.
3.
Section
633.358,
subsection
2,
paragraph
d,
Code
18

2025,
is
amended
to
read
as
follows:
19

d.
The
charitable
organization
is
a
charitable
organization

20

as
defined
in

section
15E.311
an
organization
that
is
described
21

in
section
501(c)(3)
of
the
Internal
Revenue
Code
that
is
22

exempt
from
taxation
under
section
501(a)
of
the
Internal

23

Revenue
Code
or
an
organization
that
is
established
for
a
24

charitable
purpose
.
25

EXPLANATION
26

The
inclusion
of
this
explanation
does
not
constitute
agreement
with
27

the
explanation’s
substance
by
the
members
of
the
general
assembly.
28

Under
current
law,
0.8
percent
of
the
adjusted
gross
29

receipts
tax
from
gambling
games
(Code
section
99F.11)
is
30

deposited
in
the
county
endowment
fund
(fund).
Each
fiscal
31

year,
the
department
of
revenue
divides
moneys
in
the
fund
32

equally
among
counties
in
which
no
licensee
authorized
to
33

conduct
gambling
games
under
Code
chapter
99F
is
located,
to
34

distribute
75
percent
as
grants
to
charitable
organizations
for
35

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charitable
purposes
in
that
county
and
to
retain
25
percent
for
1

use
in
establishing
a
permanent
endowment
fund
for
the
benefit
2

of
charitable
organizations
for
charitable
purposes.
This
3

bill
narrows
the
definition
of
“charitable
organization”
for
4

purposes
of
the
fund
to
only
those
located
in
this
state.
5

The
bill
alters
a
provision
of
the
probate
code
(Code
6

chapter
633)
relating
to
charitable
organization
affidavits
7

for
purposes
of
obtaining
property
or
information
regarding
8

property,
so
that
it
is
not
similarly
narrowed
by
reference.
9

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