701—80.12 (427) Methane gas conversion property.
	 80.12(1) Application for exemption. An application for exemption is required to be filed with the appropriate assessing authority by February 1 of each year. The assessed value of the property is to be prorated to reflect the appropriate amount of exemption if the property used to convert the methane gas to energy also uses another fuel. The first year exemption shall be equal to the estimated ratio that the methane gas consumed bears to the total fuel consumed times the assessed value of the property. The exemption for subsequent years shall be based on the actual ratio for the previous year.
	 80.12(2) Eligibility for exemption. To qualify for exemption, the property must be used in an operation connected with, or in conjunction with, a publicly owned sanitary landfill to collect methane gas or other gases produced as a byproduct of waste decomposition and convert the gas to energy or in an operation connected with, or in conjunction with, a publicly owned sanitary landfill to collect waste that would otherwise be collected by, or deposited with, a publicly owned sanitary landfill in order to decompose the waste to produce methane gas or other gases for conversion into energy. The property used to decompose the waste and convert the waste to gas is not eligible for the exemption.
This rule is intended to implement Iowa Code section 427.1(29).
[ARC 7726B, IAB 4/22/09, effective 5/27/09]