Text: HF02071 Text: HF02073 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 427B.17, subsection 6, Code Supplement
1 2 1995, is amended by striking the subsection.
1 3 Sec. 2. APPLICABILITY DATE. This Act applies
1 4 retroactively to assessment years beginning on or after
1 5 January 1, 1995.
1 6 Sec. 3. This Act, being deemed of immediate importance,
1 7 takes effect upon enactment.
1 8 EXPLANATION
1 9 This bill strikes the provision that requires that
1 10 industrial machinery, computers and equipment located in an
1 11 urban renewal area for which indebtedness has been incurred,
1 12 continue to be taxed at 30 percent of net acquisition cost.
1 13 This property will now be subject to those current Code
1 14 provisions which provide that on or after January 1, 1995,
1 15 such property first assessed for taxation will be exempt from
1 16 property taxation, and the taxable value of such property
1 17 purchased before that date will be phased out over a four-year
1 18 period.
1 19 The bill takes effect upon enactment and applies
1 20 retroactively to assessment years beginning on or after
1 21 January 1, 1995.
1 22 LSB 3532HH 76
1 23 sc/cf/24.1
Text: HF02071 Text: HF02073 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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