Text: HF00147 Text: HF00149 Text: HF00100 - HF00199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 427.1, subsection 19, unnumbered 1 2 paragraphs 8 and 9, Code 2003, are amended to read as follows: 1 3 For the purposes of this subsection: 1 4 a."pollution-control property""Pollution-control 1 5 property" means personal property or improvements to real 1 6 property, or any portion thereof, used primarily to control or 1 7 abate pollution of any air or water of this state or used 1 8 primarily to enhance the quality of any air or water of this 1 9 state and "recycling property" means personal property or 1 10 improvements to real property or any portion of the property, 1 11 used primarily in the manufacturing process and resulting 1 12 directly in the conversion of waste plastic, wastepaper 1 13 products, or waste paperboard, into new raw materials or 1 14 products composed primarily of recycled material. In the 1 15 event such property shall also serve other purposes or uses of 1 16 productive benefit to the owner of the property, only such 1 17 portion of the assessed valuation thereof as may reasonably be 1 18 calculated to be necessary for and devoted to the control or 1 19 abatement of pollution, to the enhancement of the quality of 1 20 the air or water of this state, or for recycling shall be 1 21 exempt from taxation under this subsection. 1 22 "Pollution-control property" or "recycling property" does 1 23 not include property used for purposes related to the care and 1 24 feeding of livestock as defined in section 169C.1, except for 1 25 property which is eligible for a family farm tax credit as 1 26 provided in chapter 425A. The exemption calculated for 1 27 pollution-control property or recycling property used for the 1 28 purpose of care and feeding of livestock and which is eligible 1 29 for a family farm tax credit is limited to the first one 1 30 hundred thousand dollars of the property's assessed value. 1 31 b.For the purposes of this subsection "pollution"1 32 "Pollution" means air pollution as defined in section 455B.131 1 33 or water pollution as defined in section 455B.171. 1 34 c. "Water of the state" means the water of the state as 1 35 defined in section 455B.171. 2 1 d. "Enhance the quality" means to diminish the level of 2 2 pollutants below the air or water quality standards 2 3 established by the environmental protection commission of the 2 4 department of natural resources. 2 5 Sec. 2. APPLICABILITY. This Act is applicable for tax 2 6 years beginning on and after January 1, 2004. 2 7 EXPLANATION 2 8 This bill amends Code section 427.1, which provides a 2 9 number of exemptions from property taxation. The section 2 10 includes an exemption for certain types of pollution-control 2 11 and recycling property as certified by the department of 2 12 natural resources. The bill limits this tax exemption for 2 13 such property that is related to the care and feeding of 2 14 livestock by requiring that the property used for the care and 2 15 feeding of livestock must be eligible for a family farm tax 2 16 credit under Code chapter 425A. The bill also provides that 2 17 the tax credit still available is limited to the first 2 18 $100,000 of the property's assessed value. The bill is 2 19 applicable for tax years beginning on and after January 1, 2 20 2004. 2 21 LSB 1490HH 80 2 22 da/sh/8
Text: HF00147 Text: HF00149 Text: HF00100 - HF00199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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