Text: SF00179 Text: SF00181 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 427.1, subparagraph 19, unnumbered 1 2 paragraph 8, Code 2001, is amended to read as follows: 1 3 For the purposes of this subsection, "pollution-control 1 4 property" means personal property or improvements to real 1 5 property, or any portion thereof, used primarily to control or 1 6 abate pollution of any air or water of this state or used 1 7 primarily to enhance the quality of any air or water of this 1 8 state and "recycling property" means personal property or 1 9 improvements to real property or any portion of the property, 1 10 used primarily in the manufacturing process and resulting 1 11 directly in the conversion ofwaste plastic, wastepaper1 12products, or waste paperboard,solid waste or other waste 1 13 materials into new raw materials or products composed 1 14 primarily of recycled material. In the event such property 1 15 shall also serve other purposes or uses of productive benefit 1 16 to the owner of the property, only such portion of the 1 17 assessed valuation thereof as may reasonably be calculated to 1 18 be necessary for and devoted to the control or abatement of 1 19 pollution, to the enhancement of the quality of the air or 1 20 water of this state, or for recycling shall be exempt from 1 21 taxation under this subsection. 1 22 Sec. 2. IMPLEMENTATION OF ACT. Section 25B.7 does not 1 23 apply to the exemption in section 1 of this Act. 1 24 Sec. 3. APPLICABILITY. This Act applies to assessment 1 25 years beginning on or after January 1, 2002. 1 26 EXPLANATION 1 27 This bill expands the definition of recycling property for 1 28 purposes of the exemption from property tax for recycling 1 29 property. Present law provides that in order for the property 1 30 to be considered recycling property, the property must be 1 31 primarily used in the manufacturing process that results 1 32 directly in the conversion of waste plastic, wastepaper 1 33 products, or waste paperboard into new materials or products. 1 34 The bill expands this exemption to include property used to 1 35 convert all solid waste or other waste products. 2 1 The bill applies to assessment years beginning on or after 2 2 January 1, 2002. 2 3 LSB 2542SS 79 2 4 mg/pj/5
Text: SF00179 Text: SF00181 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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