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House Journal: Page 2013: Thursday, April 27, 1995

Page 22
 1   receive the benefits of this section.
 2     Any electric power generating plant which operated
 3   during the preceding assessment year at a net capacity
 4   factor of more than twenty percent, shall not receive
 5   the benefits of this section or of sections 15.332 and
 6   15.334.  For purposes of this section, "electric power
 7   generating plant" means any name plate rated electric
 8   power generating plant, in which electric energy is
 9   produced from other forms of energy, including all
10   taxable land, buildings, and equipment used in the
11   production of such energy.  "Net capacity factor"
12   means net actual generation divided by the product of
13   net maximum capacity times the number of hours the
14   unit was in the active state during the assessment
15   year.  Upon commissioning, a unit is in the active
16   state until it is decommissioned.  "Net actual
17   generation" means net electrical megawatt hours
18   produced by the unit during the preceding assessment
19   year.  "Net maximum capacity" means the capacity the
20   unit can sustain over a specified period when not
21   restricted by ambient conditions or equipment
22   deratings, minus the losses associated with station
23   service or auxiliary loads.
24     6.  The taxpayer's valuation of property defined in
25   section 427A.1, subsection 1, paragraphs "e" and "j",
26   and located in an urban renewal area for which an
27   urban renewal plan provides for the division of taxes
28   as provided in section 403.19 to pay the principal and
29   interest on loans, advances, bonds issued under the
30   authority of section 403.9, subsection 1, or
31   indebtedness incurred by a city or county to finance
32   an urban renewal project within the urban renewal
33   area, if such loans, advances, or bonds were issued or
34   indebtedness incurred, on or after January 1, 1982,
35   and on or before June 30, 1995, shall be limited to
36   thirty percent of the net acquisition cost of the
37   property.  Such property located in an urban renewal
38   area shall not be valued pursuant to subsection 2 or
39   3, whichever is applicable, until the assessment year
40   following the calendar year in which the obligations
41   created by any loans, advances, bonds, or indebtedness
42   payable from the division of taxes as provided in
43   section 403.19 have been retired.  The taxpayer's
44   valuation for such property shall then be the
45   valuation specified in subsection 2 or 3, whichever is
46   applicable, for the applicable assessment year.  If
47   the loans, advances, or bonds issued, or indebtedness
48   incurred between January 1, 1982, and June 30, 1995,
49   are refinanced or refunded after June 30, 1995, the
50   valuation of such property shall then be the valuation

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.

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URL: /DOCS/GA/76GA/Session.1/HJournal/02000/02013.html
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