PROP TAX-WATER TREATMNT FACLTY
Synopsis of Bill as introduced:
Amends the Property Tax Code. Provides that a qualifying water
treatment facility means a water treatment facility that is owned by a
not for profit corporation that sells potable water to the
corporation's members on a mutual or cooperative and not for profit
basis. Provides that qualifying water treatment facilities shall be
valued for purposes of computing the assessed valuation on the basis
of 33 1/3% of the fair cash value, which shall be determined based on
the value of the facility if it were removed from the site and sold.
Provides for application for a qualifying water treatment facility
certificate from the Department of Natural Resources and judicial
review for aggrieved parties. Authorizes the Department of Revenue to
adopt rules concerning the assessment of qualified facilities.
Effective January 1, 2002.
Last action on Bill: PUBLIC ACT.............................. 92-0278
Last action date: AUG-07-2001
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status