A bill for an act relating to the assessment of property containing certain aboveground storage tanks and including effective date and retroactive applicability provisions.

HSB 238 modifies how certain aboveground storage tanks are assessed for property tax purposes in Iowa. The bill specifies that aboveground storage tanks of any size will not be assessed and taxed as real property if they are not permanently attached and would ordinarily be removed when the property owner moves. This change affects property owners with such tanks and aims to clarify their tax classification. The bill takes effect upon enactment and applies retroactively to assessment years beginning on or after January 1, 2025.