Text: HF2300            Text: HF2302
Complete Bill History


House File 2301

HOUSE FILE BY FORD Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act limiting a tax credit for pollution=control and recycling 2 property used for the care and feeding of livestock, and 3 providing for the tax credit's applicability. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 6147HH 80 6 da/sh/8 PAG LIN 1 1 Section 1. Section 427.1, subsection 19, unnumbered 1 2 paragraphs 8 and 9, Code Supplement 2003, are amended to read 1 3 as follows: 1 4 a. For the purposes of this subsection, "pollution= 1 5 control: 1 6 a. "Pollution=control property" means personal property or 1 7 improvements to real property, or any portion thereof, used 1 8 primarily to control or abate pollution of any air or water of 1 9 this state or used primarily to enhance the quality of any air 1 10 or water of this state and "recycling property" means personal 1 11 property or improvements to real property or any portion of 1 12 the property, used primarily in the manufacturing process and 1 13 resulting directly in the conversion of waste plastic, 1 14 wastepaper products, waste paperboard, or waste wood products 1 15 into new raw materials or products composed primarily of 1 16 recycled material. In the event such property shall also 1 17 serve other purposes or uses of productive benefit to the 1 18 owner of the property, only such portion of the assessed 1 19 valuation thereof as may reasonably be calculated to be 1 20 necessary for and devoted to the control or abatement of 1 21 pollution, to the enhancement of the quality of the air or 1 22 water of this state, or for recycling shall be exempt from 1 23 taxation under this subsection. 1 24 "Pollution=control property" or "recycling property" does 1 25 not include property used for purposes related to the care and 1 26 feeding of livestock as defined in section 169C.1, except for 1 27 property which is eligible for a family farm tax credit as 1 28 provided in chapter 425A. The exemption calculated for 1 29 pollution=control property or recycling property used for the 1 30 purpose of care and feeding of livestock and which is eligible 1 31 for a family farm tax credit is limited to the first one 1 32 hundred thousand dollars of the property's assessed value. 1 33 b. For the purposes of this subsection, "pollution" 1 34 "Pollution" means air pollution as defined in section 455B.131 1 35 or water pollution as defined in section 455B.171. 2 1 c. "Water of the state" means the water of the state as 2 2 defined in section 455B.171. 2 3 d. "Enhance the quality" means to diminish the level of 2 4 pollutants below the air or water quality standards 2 5 established by the environmental protection commission of the 2 6 department of natural resources. 2 7 Sec. 2. APPLICABILITY. This Act is applicable for tax 2 8 years beginning on and after January 1, 2005. 2 9 EXPLANATION 2 10 This bill amends Code section 427.1, which provides a 2 11 number of exemptions from property taxation. The section 2 12 includes an exemption for certain types of pollution=control 2 13 and recycling property as certified by the department of 2 14 natural resources. The bill limits this tax exemption for 2 15 such property that is related to the care and feeding of 2 16 livestock by requiring that the property used for the care and 2 17 feeding of livestock must be eligible for a family farm tax 2 18 credit under Code chapter 425A. The bill also provides that 2 19 the tax credit still available is limited to the first 2 20 $100,000 of the property's assessed value. The bill is 2 21 applicable for tax years beginning on and after January 1, 2 22 2005. 2 23 LSB 6147HH 80 2 24 da/sh/8
Text: HF2300            Text: HF2302 Complete Bill History