House File 18 - Introduced
HOUSE FILE
BY KUHN and FREVERT
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 1377HH 81
7 da/sh/8
PAG LIN
1 1 Section 1. Section 427.1, subsection 19, unnumbered
1 2 paragraphs 8 and 9, Code 2005, are amended to read as follows:
1 3 For the purposes of this subsection, "pollution=control
1 4 property":
1 5 a. "Pollution=control property" means personal property or
1 6 improvements to real property, or any portion thereof, used
1 7 primarily to control or abate pollution of any air or water of
1 8 this state or used primarily to enhance the quality of any air
1 9 or water of this state and "recycling property" means personal
1 10 property or improvements to real property or any portion of
1 11 the property, used primarily in the manufacturing process and
1 12 resulting directly in the conversion of waste plastic,
1 13 wastepaper products, waste paperboard, or waste wood products
1 14 into new raw materials or products composed primarily of
1 15 recycled material. In the event such property shall also
1 16 serve other purposes or uses of productive benefit to the
1 17 owner of the property, only such portion of the assessed
1 18 valuation thereof as may reasonably be calculated to be
1 19 necessary for and devoted to the control or abatement of
1 20 pollution, to the enhancement of the quality of the air or
1 21 water of this state, or for recycling shall be exempt from
1 22 taxation under this subsection.
1 23 "Pollution=control property" or "recycling property" does
1 24 not include property used for purposes related to the care and
1 25 feeding of livestock as defined in section 169C.1, except for
1 26 property which is eligible for a family farm tax credit as
1 27 provided in chapter 425A. The exemption calculated for
1 28 pollution=control property or recycling property used for the
1 29 purpose of care and feeding of livestock and which is eligible
1 30 for a family farm tax credit is limited to the first one
1 31 hundred thousand dollars of the property's assessed value.
1 32 b. For the purposes of this subsection, "pollution"
1 33 "Pollution" means air pollution as defined in section 455B.131
1 34 or water pollution as defined in section 455B.171.
1 35 c. "Water of the state" means the water of the state as
2 1 defined in section 455B.171.
2 2 d. "Enhance the quality" means to diminish the level of
2 3 pollutants below the air or water quality standards
2 4 established by the environmental protection commission of the
2 5 department of natural resources.
2 6 Sec. 2. APPLICABILITY. This Act is applicable for tax
2 7 years beginning on and after January 1, 2006.
2 8 EXPLANATION
2 9 This bill amends Code section 427.1, which provides a
2 10 number of exemptions from property taxation. The section
2 11 includes an exemption for certain types of pollution=control
2 12 and recycling property as certified by the department of
2 13 natural resources. The bill limits this tax exemption for
2 14 such property that is related to the care and feeding of
2 15 livestock by requiring that the property used for the care and
2 16 feeding of livestock must be eligible for a family farm tax
2 17 credit under Code chapter 425A. The bill also provides that
2 18 the tax credit still available is limited to the first
2 19 $100,000 of the property's assessed value.
2 20 The bill is applicable for tax years beginning on and after
2 21 January 1, 2006.
2 22 LSB 1377HH 81
2 23 da/sh/8