Text: HF02072                           Text: HF02074
Text: HF02000 - HF02099                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

House File 2073

Partial Bill History

Bill Introduced: H.J. 77
Complete Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 427.1, subsection 19, unnumbered
  1  2 paragraph 8, Code Supplement 2001, is amended to read as
  1  3 follows:
  1  4    For the purposes of this subsection, "pollution-control
  1  5 property" means personal property or property that is
  1  6 improvements an improvement to real property, or any portion
  1  7 thereof, used of the property, if the property is used
  1  8 primarily to control or abate air or water pollution of any
  1  9 air or water of in this state or used primarily to enhance the
  1 10 air or water quality of any air or water of in this state and
  1 11 "recycling.  "Recycling property" means personal property or
  1 12 property that is improvements an improvement to real property,
  1 13 or any portion of the property, if the property is used
  1 14 primarily in the manufacturing process and resulting results
  1 15 directly in the conversion of waste plastic, wastepaper
  1 16 products, or waste paperboard, into new raw materials or
  1 17 products composed primarily of recycled material.  In the
  1 18 event such the property shall also serve other purposes has
  1 19 another purpose or uses use of productive benefit to the owner
  1 20 of the property, only such portion of the assessed valuation
  1 21 thereof of the property as may reasonably be calculated to be
  1 22 necessary for and devoted to the control or abatement of
  1 23 pollution, to the enhancement of the air or water quality of
  1 24 the air or water of in this state, or for recycling shall be
  1 25 exempt from taxation under this subsection.  "Pollution-
  1 26 control property" or "recycling property" does not include
  1 27 personal or real property used for purposes relating to the
  1 28 maintenance of livestock as required pursuant to chapter 717,
  1 29 except for property that is eligible for a family farm tax
  1 30 credit as provided in chapter 425A.  However, the exemption
  1 31 calculated for pollution-control property or recycling
  1 32 property used for purposes related to the maintenance of
  1 33 livestock allowed in this paragraph is limited to the first
  1 34 one hundred thousand dollars in assessed value.  
  1 35                           EXPLANATION
  2  1    Code section 427.1 provides for a list of classes of
  2  2 property that are not subject to property tax.  This bill
  2  3 amends the tax exemption for "pollution-control property" that
  2  4 is used to control or abate air or water pollution or
  2  5 alternatively to enhance air or water quality, and "recycling
  2  6 property" that is used in the conversion of waste plastic,
  2  7 wastepaper products, or waste paperboard, into new raw
  2  8 materials or products composed primarily of recycled material.
  2  9    The bill provides that pollution-control property or
  2 10 recycling property does not include property used for purposes
  2 11 relating to the maintenance of livestock, except for property
  2 12 that is eligible for a family farm tax credit as provided in
  2 13 Code chapter 425A.  In that case, the exemption is limited to
  2 14 the first $100,000 in assessed value.  
  2 15 LSB 5653HH 79
  2 16 da/cls/14

Text: HF02072                           Text: HF02074
Text: HF02000 - HF02099                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

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