Text: SF00128 Text: SF00130 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 427.1, subsection 19, unnumbered 1 2 paragraph 2, Code 2001, 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 71975, to existing pollution-control property if its1 8construction or installation was completed after September 23,1 91970, and this exemption shall apply beginning January 1,1 101994, to recycling property."Pollution-control property" and 1 11 "recycling property" do not include property used for purposes 1 12 related to the care and feeding of livestock as defined in 1 13 section 169C.1, except for property which is eligible for a 1 14 family farm tax credit as provided in chapter 425A. 1 15 The exemption calculated for pollution control or recycling 1 16 property used for purposes related to the care and feeding of 1 17 livestock as defined in section 169C.1, and which is eligible 1 18 for a family farm tax credit as provided in chapter 425A, is 1 19 limited to the first one hundred thousand dollars in assessed 1 20 value. 1 21 EXPLANATION 1 22 This bill amends the property tax exemption for pollution- 1 23 control and recycling property. The bill provides that this 1 24 tax exemption is not available for property used for purposes 1 25 related to the care and feeding of livestock. The bill 1 26 provides that the exemption is still available for property 1 27 which is eligible for a family farm tax credit up to the first 1 28 $100,000 in assessed value. 1 29 LSB 2246SS 79 1 30 da/gg/8
Text: SF00128 Text: SF00130 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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