2012 House Bill 6055

Business tools and equipment tax reform package

Introduced in the House

Nov. 28, 2012

Introduced by Rep. Jeff Farrington (R-30)

To eliminate (starting in 2015) the so-called “personal property tax” that manufacturers currently pay on tools and equipment (including things like assembly lines), if the equipment has been in use for at least 10 years. This is part of a package comprised of House Bills 6051 to 6057 (and Senate Bills 1065 to 1072).

Referred to the Committee on Tax Policy