Bills › 90th General Assembly
Where it is now
- Done: IntroducedJanuary 20, 2023
- Done: SubcommitteeJanuary 20, 2023
- Done: House committeeFebruary 1, 2023
- Skipped: Passes the HouseContinued as HF 206
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Became HF 206 → Its progress continues under the new number. Go to HF 206 What’s a funnel?
What’s in it
1 specifies that for the purposes of property taxation only, certain property shall be assessed and taxed, unless otherwise qualified for exemption, as real property, including buildings, structures, or improvements, any of which are constructed on or in the land, attached to the land, or placed upon a foundation whether or not attached to the foundation. However, property is not “attached” if it is a kind of property which would ordinarily be removed when the owner of the property moves to another location.
Read the full explanation
This bill provides that aboveground flammable or combustible liquid storage tanks of any size that would ordinarily be removed when the owner of the property moves to another location shall not be assessed and taxed as real property. The bill applies to assessment years beginning on or after January 1, 2024.
House subcommittee
Named January 20, 2023. On January 26, 2023 it recommended amendment and passage. Vote Total: 3-0.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Fiscal note
AI summary This bill exempts aboveground storage tanks of any size from property taxes if they are not attached to real property. If the change applies to all currently taxed tanks, it is projected to increase the annual State General Fund appropriation for school aid by $1.6 million and decrease annual local government property tax revenue by $8.6 million starting in fiscal year 2025. Owners of these tanks would see a projected decrease in annual property taxes of $10.2 million.2
From the note: The Bill will increase the annual State General Fund appropriation for school aid and decrease annual local government property tax revenue, although the level of impact cannot be projected without knowledge as to how the law change will be implemented by the Department of Revenue and local assessors.
- Property Tax Assessments, Aboveground Storage Tanks · February 14, 2023
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90th General Assembly
Picked up later
Earlier and later bills are matched by wording or an identical title.
Similar bills
- HSB 238 Relating to the assessment of property containing certain aboveground storage tanks and in…91st General Assembly · Renumbered as HF 1050Nearly identical
Matched by wording or an identical title.