Senate
File
2007
-
Introduced
SENATE
FILE
2007
BY
D.
JOHNSON
A
BILL
FOR
An
Act
relating
to
a
tax
credit
for
pollution-control
and
1
recycling
property
connected
to
property
used
for
the
care
2
and
feeding
of
livestock,
and
including
effective
date
and
3
applicability
provisions.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
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2007
Section
1.
Section
427.1,
subsection
19,
paragraph
e,
1
subparagraph
(1),
Code
2018,
is
amended
to
read
as
follows:
2
(1)
For
the
purposes
of
this
subsection
,
“pollution-control
3
property”
subsection:
4
(a)
“Pollution-control
property”
means
personal
property
or
5
improvements
to
real
property,
or
any
portion
thereof,
used
6
primarily
to
control
or
abate
pollution
of
any
air
or
water
of
7
this
state
or
used
primarily
to
enhance
the
quality
of
any
air
8
or
water
of
this
state
and
“recycling
property”
means
personal
9
property
or
improvements
to
real
property
or
any
portion
of
10
the
property,
used
primarily
in
the
manufacturing
process
and
11
resulting
directly
in
the
conversion
of
waste
glass,
waste
12
plastic,
wastepaper
products,
waste
paperboard,
or
waste
wood
13
products
into
new
raw
materials
or
products
composed
primarily
14
of
recycled
material.
In
the
event
such
property
shall
also
15
serve
other
purposes
or
uses
of
productive
benefit
to
the
owner
16
of
the
property,
only
such
portion
of
the
assessed
valuation
17
thereof
as
may
reasonably
be
calculated
to
be
necessary
for
18
and
devoted
to
the
control
or
abatement
of
pollution,
to
the
19
enhancement
of
the
quality
of
the
air
or
water
of
this
state,
20
or
for
recycling
shall
be
exempt
from
taxation
under
this
21
subsection
.
22
(b)
“Pollution-control
property”
or
“recycling
property”
23
does
not
include
property
used
for
purposes
related
to
the
24
care
and
feeding
of
livestock
as
defined
in
section
169C.1,
25
except
for
property
which
is
eligible
for
a
family
farm
tax
26
credit
as
provided
in
chapter
425A.
The
exemption
calculated
27
for
pollution-control
property
or
recycling
property
used
for
28
the
purpose
of
care
and
feeding
of
livestock
and
which
is
29
eligible
for
a
family
farm
tax
credit
is
limited
to
the
first
30
one
hundred
thousand
dollars
of
the
property’s
assessed
value.
31
Sec.
2.
EFFECTIVE
DATE.
This
Act
takes
effect
January
1,
32
2019.
33
Sec.
3.
APPLICABILITY.
This
Act
applies
to
tax
years
34
beginning
on
or
after
January
1,
2019.
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2007
EXPLANATION
1
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
2
the
explanation’s
substance
by
the
members
of
the
general
assembly.
3
This
bill
amends
Code
section
427.1,
which
provides
a
4
number
of
exemptions
from
property
taxation.
The
Code
section
5
includes
an
exemption
for
certain
types
of
pollution-control
6
and
recycling
property
as
certified
by
the
department
of
7
natural
resources.
The
bill
limits
this
tax
exemption
for
such
8
property
that
is
related
to
the
care
and
feeding
of
livestock
9
by
requiring
that
the
property
used
for
the
care
and
feeding
10
of
livestock
must
be
eligible
for
a
family
farm
tax
credit
11
under
Code
chapter
425A.
The
bill
also
provides
that
the
tax
12
credit
still
available
is
limited
to
the
first
$100,000
of
the
13
property’s
assessed
value.
The
bill
takes
effect
January
1,
14
2019,
and
is
applicable
for
tax
years
beginning
on
and
after
15
that
date.
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