SF 278 – Algae cultivation property considered agricultural land
SF 451 – Replacement tax for private water utilities
HF 627 – Property tax exemption for county fairgrounds
HF 631 – Propane Education & Research Council
FLOOR ACTION:
SF 451 changes the taxation of rate regulated private water utilities to match the existing taxation method for rate regulated electric and natural gas utilities. Iowa American is the only private water utility in the state. The electric and gas utilities transitioned to a replacement tax in 1999, but the private water utility did not have its taxation method changed. The bill simply aligns the private water utility with the other rate-regulated utilities. [4/30: 48-0 (Chelgren, Mathis absent)]
HF 631 allows the professional fire fighters association to appoint a member to the Propane Education and Research Council. A council member’s service is for three years, and the number of terms is no longer limited. The future repeal (Dec. 31, 2014) of the council is struck. [4/30: 47-0 (Chelgren, Mathis, Sorenson absent)]
COMMITTEE ACTION:
SF 278 provides that property used directly in the cultivation and production of algae for animal feed, nutritionals or biofuel production shall be assessed as agricultural property. The property must be an enclosed pond or land containing a bioreactor. This is designed to provide that the cultivation of algae is an agricultural process and should be taxed as such. This does not apply to the entire production facility, but just the part where the algae are cultivated. [5/1: short form]
HF 627 provides that the fairgrounds property that is owned by a county fair shall be exempt from property taxes. This clarifies that the property is exempt even if the property is used for events besides the county fair. [5/1: short form]