Introduced
by
To revise methods used by local governments to calculate the taxable value of commercial tools and equipment ("personal property) and industrial property for purposes of receiving state reimbursements of taxes that are foregone to locals under a complex system of exemptions and subsidies for property taxes that are levied on these assets. This bill applies to intermediate school district “enhancement millages,” and is part of a package comprised of House Bills 4926 to 4930.
Referred to the Committee on Tax Policy
Reported without amendment
Refer to the Committee on Ways and Means.
Referred to the Committee on Ways and Means
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Passed in the House 96 to 9 (details)
To revise methods used by local governments to calculate the taxable value of commercial “personal property” (tools and equipment) and industrial property for purposes of receiving state reimbursement of foregone taxes under the complex system of exemptions and subsidies for property taxes that are levied on these assets. This bill applies to intermediate school district “enhancement millages,” and is part of a package comprised of House Bills 4926 to 4930.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Passed in the Senate 36 to 1 (details)
To revise methods used by local governments to calculate the taxable value of commercial “personal property” (tools and equipment) and industrial property for purposes of receiving state reimbursement of foregone taxes under the complex system of exemptions and subsidies for property taxes that are levied on these assets. This bill applies to intermediate school district “enhancement millages,” and is part of a package comprised of House Bills 4926 to 4930.
Passed in the House 96 to 9 (details)
