Text: HF00189 Text: HF00191 Text: HF00100 - HF00199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 427.1, subsection 32, unnumbered 1 2 paragraph 2, Code 1995, is amended to read as follows: 1 3 This exemption shall apply to new installations of 1 4 pollution-control or recycling property beginning on January 1 1 5 after the construction or installation of the property is 1 6 completed. This exemption shall apply beginning on January 1, 1 7 1975, to existing pollution-control property if its 1 8 construction or installation was completed after September 23, 1 9 1970,andthis exemption shall apply beginning January 1, 1 10 1994, to recycling property used in the conversion of waste 1 11 plastic, wastepaper products, or waste paperboard, and this 1 12 exemption shall apply beginning January 1, 1996, to recycling 1 13 property used in the conversion of ferrous and nonferrous 1 14 metal, wood, glass, tires, scrap tires, or shredded tires. 1 15 Sec. 2. Section 427.1, subsection 32, unnumbered paragraph 1 16 8, Code 1995, is amended to read as follows: 1 17 For the purposes of this subsection: "pollution-control 1 18 property" means personal property or improvements to real 1 19 property, or any portion thereof, used primarily to control or 1 20 abate pollution of any air or water of this state or used 1 21 primarily to enhance the quality of any air or water of this 1 22 state;and"recycling property" means personal property or 1 23 improvements to real property or any portion of the property, 1 24 used primarily in the manufacturing process and resulting 1 25 directly in the conversion of ferrous and nonferrous metal, 1 26 wood, glass, tires, scrap tires, shredded tires, waste 1 27 plastic, wastepaper products, or waste paperboard,into new1 28 for utilization as raw materialsor productsto be 1 29 manufactured into new products composed primarily of recycled 1 30 material; and "recycling property" also means personal 1 31 property or improvements to real property or any portion of 1 32 the property, used primarily in the manufacturing of new 1 33 products composed primarily of recycled materials. This 1 34 subsection shall not apply to ferrous and nonferrous metal, 1 35 wood, glass, tires, scrap tires, shredded tires, waste 2 1 plastic, wastepaper products, or waste paperboard converted 2 2 for purposes of waste disposal.In the eventIf such 2 3 pollution control propertyshallalsoserveserves other 2 4 purposes or uses of productive benefit to the owner of the 2 5 property, only such portion of the assessed valuationthereof2 6 of the property as may reasonably be calculated to be 2 7 necessary for and devoted to the control or abatement of 2 8 pollution,and to the enhancement of the quality of the air or 2 9 water of this state, or for recyclingshall be exempt from 2 10 taxation under this subsection. 2 11 Sec. 3. Section 427.1, subsection 32, Code 1995, is 2 12 amended by adding the following new unnumbered paragraph: 2 13 NEW UNNUMBERED PARAGRAPH. For the purposes of this 2 14 subsection, "improvements to real property" does not include 2 15 the construction of buildings or any parts of buildings. 2 16 EXPLANATION 2 17 This bill extends the property tax exemption, beginning 2 18 January 1, 1996, for recycling property to property used 2 19 primarily in the conversion of ferrous and nonferrous metal, 2 20 wood, glass, tires, scrap tires, and shredded tires into raw 2 21 materials and property used to manufacture new products 2 22 composed primarily of recycled material. 2 23 LSB 1640HV 76 2 24 sc/sc/14
Text: HF00189 Text: HF00191 Text: HF00100 - HF00199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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