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House Journal: Page 916: Wednesday, March 22, 1995

22     a.  For the assessment year beginning January 1,
23   1995, at twenty-six percent of the net acquisition
24   cost.
25     b.  For the assessment year beginning January 1,
26   1996, at twenty-two percent of the net acquisition
27   cost.
28     c.  For the assessment year beginning January 1,
29   1997, at eighteen percent of the net acquisition cost.
30     d.  For the assessment year beginning January 1,
31   1998, at fourteen percent of the net acquisition cost.
32     e.  For the assessment year beginning January 1,
33   1999, at ten percent of the net acquisition cost.
34     f.  For the assessment year beginning January 1,
35   2000, at six percent of the net acquisition cost.
36     g.  For the assessment year beginning January 1,
37   2001, and all subsequent assessment years, at zero
38   percent of the net acquisition cost.
39     2.  For purposes of this section:
40     a.  Property assessed by the department of revenue
41   and finance pursuant to sections 428.24 to 428.29, or
42   chapters 433, 434, and 436 to 438 shall not receive
43   the benefits of this section.
44     Any electric power generating plant which operated
45   during the preceding assessment year at a net capacity
46   factor of more than twenty percent, shall not receive
47   the benefits of this section.  For purposes of this
48   section, "electric power generating plant" means any
49   name plate rated electric power generating plant, in
50   which electric energy is produced from other forms of

Page   5

 1   energy, including all taxable land, buildings, and
 2   equipment used in the production of such energy.  "Net
 3   capacity factor" means net actual generation divided
 4   by the product of net maximum capacity times the
 5   number of hours the unit was in the active state
 6   during the assessment year.  Upon commissioning, a
 7   unit is in the active state until it is de-
 8   commissioned.  "Net actual generation" means net
 9   electrical megawatt hours produced by the unit during
10   the preceding assessment year.  "Net maximum capacity"
11   means the capacity the unit can sustain over a
12   specified period when not restricted by ambient
13   conditions or equipment deratings, minus the losses
14   associated with station service or auxiliary loads.
15     b.  The net acquisition cost of property acquired
16   before January 1, 1995, which was owned or used by a
17   related person shall be the net acquisition cost of
18   the transferor of the property.
19     c.  "Related person" means a person who owns or
20   controls the taxpayer's business and another business
21   entity from which property is acquired or leased or to
22   which property is sold or leased.  Business entities

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 1)

© 1995 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Sun Jan 14 21:05:02 CST 1996
URL: /DOCS/GA/76GA/Session.1/HJournal/00900/00916.html
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