Relating to tax benefits for certain industrial property; prescribing an effective date.
Catchline/Summary:
Provides that "eligible location," for purposes of certain property tax benefits, includes location not formerly used for industrial purposes. Provides that "eligible location," for purposes of certain property tax benefits, includes location not formerly used for industrial purposes. Provides that "eligible property" may be property appraised either by county or by Department of Revenue. Provides that "eligible property" includes property constructed or installed at brownfield that is being cleaned up and cost of initial investment may include remaining cleanup costs. Clarifies definition of "rural area."
Takes effect on 91st day following adjournment sine die.
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SB 468 House Committee On Revenue
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