House File 148
HOUSE FILE
BY JOCHUM, KUHN, FALLON,
SHOULTZ, OSTERHAUS, HOGG,
SWAIM, FREVERT, WHITAKER,
BUKTA, D. TAYLOR, GASKILL,
and D. OLSON
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to a tax credit for pollution=control and
2 recycling property connected to property used for the care and
3 feeding of livestock, and providing for the Act's
4 applicability.
5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
6 TLSB 1490HH 80
7 da/sh/8
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