Text: HSB00116                          Text: HSB00118
Text: HSB00100 - HSB00199               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

House Study Bill 117

Conference Committee Text

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, and this 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, 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 tires, scrap tires, shredded tires, waste plastic, wastepaper
  1 27 products, or waste paperboard, into new for utilization as raw
  1 28 materials or products to be manufactured into new products
  1 29 composed primarily of recycled material; and "recycling
  1 30 property" also means personal property or improvements to real
  1 31 property or any portion of the property, used primarily in the
  1 32 manufacturing of new products composed primarily of recycled
  1 33 materials.  This subsection shall not apply to ferrous and
  1 34 nonferrous metal, tires, scrap tires, shredded tires, waste
  1 35 plastic, wastepaper products, or waste paperboard converted
  2  1 for purposes of waste disposal.  In the event If such
  2  2 pollution control property shall also serve serves other
  2  3 purposes or uses of productive benefit to the owner of the
  2  4 property, only such portion of the assessed valuation thereof
  2  5 of the property as may reasonably be calculated to be
  2  6 necessary for and devoted to the control or abatement of
  2  7 pollution, and to the enhancement of the quality of the air or
  2  8 water of this state, or for recycling shall be exempt from
  2  9 taxation under this subsection.  
  2 10                           EXPLANATION
  2 11    This bill extends the property tax exemption, beginning
  2 12 January 1, 1996, for recycling property to property used
  2 13 primarily in the conversion of ferrous and nonferrous metal,
  2 14 tires, scrap tires, and shredded tires into raw materials and
  2 15 property used to manufacture new products composed primarily
  2 16 of recycled material.  
  2 17 LSB 1640HC 76
  2 18 sc/sc/14.1
     

Text: HSB00116                          Text: HSB00118
Text: HSB00100 - HSB00199               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

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