House File 2301
HOUSE FILE
BY FORD
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act limiting a tax credit for pollution=control and recycling
2 property used for the care and feeding of livestock, and
3 providing for the tax credit's applicability.
4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
5 TLSB 6147HH 80
6 da/sh/8
PAG LIN
1 1 Section 1. Section 427.1, subsection 19, unnumbered
1 2 paragraphs 8 and 9, Code Supplement 2003, are amended to read
1 3 as follows:
1 4 a. For the purposes of this subsection, "pollution=
1 5 control:
1 6 a. "Pollution=control property" means personal property or
1 7 improvements to real property, or any portion thereof, used
1 8 primarily to control or abate pollution of any air or water of
1 9 this state or used primarily to enhance the quality of any air
1 10 or water of this state and "recycling property" means personal
1 11 property or improvements to real property or any portion of
1 12 the property, used primarily in the manufacturing process and
1 13 resulting directly in the conversion of waste plastic,
1 14 wastepaper products, waste paperboard, or waste wood products
1 15 into new raw materials or products composed primarily of
1 16 recycled material. In the event such property shall also
1 17 serve other purposes or uses of productive benefit to the
1 18 owner of the property, only such portion of the assessed
1 19 valuation thereof as may reasonably be calculated to be
1 20 necessary for and devoted to the control or abatement of
1 21 pollution, to the enhancement of the quality of the air or
1 22 water of this state, or for recycling shall be exempt from
1 23 taxation under this subsection.
1 24 "Pollution=control property" or "recycling property" does
1 25 not include property used for purposes related to the care and
1 26 feeding of livestock as defined in section 169C.1, except for
1 27 property which is eligible for a family farm tax credit as
1 28 provided in chapter 425A. The exemption calculated for
1 29 pollution=control property or recycling property used for the
1 30 purpose of care and feeding of livestock and which is eligible
1 31 for a family farm tax credit is limited to the first one
1 32 hundred thousand dollars of the property's assessed value.
1 33 b. For the purposes of this subsection, "pollution"
1 34 "Pollution" means air pollution as defined in section 455B.131
1 35 or water pollution as defined in section 455B.171.
2 1 c. "Water of the state" means the water of the state as
2 2 defined in section 455B.171.
2 3 d. "Enhance the quality" means to diminish the level of
2 4 pollutants below the air or water quality standards
2 5 established by the environmental protection commission of the
2 6 department of natural resources.
2 7 Sec. 2. APPLICABILITY. This Act is applicable for tax
2 8 years beginning on and after January 1, 2005.
2 9 EXPLANATION
2 10 This bill amends Code section 427.1, which provides a
2 11 number of exemptions from property taxation. The section
2 12 includes an exemption for certain types of pollution=control
2 13 and recycling property as certified by the department of
2 14 natural resources. The bill limits this tax exemption for
2 15 such property that is related to the care and feeding of
2 16 livestock by requiring that the property used for the care and
2 17 feeding of livestock must be eligible for a family farm tax
2 18 credit under Code chapter 425A. The bill also provides that
2 19 the tax credit still available is limited to the first
2 20 $100,000 of the property's assessed value. The bill is
2 21 applicable for tax years beginning on and after January 1,
2 22 2005.
2 23 LSB 6147HH 80
2 24 da/sh/8