00RS HB749

HB749

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HB 749/FN/LM (BR 2248) - J. Callahan, L. Clark, B. Buckingham, S. Cave, P. Clark, R. Crimm, B. DeWeese, J. Draud, T. Feeley, B. Heleringer, P. Marcotte, R. Palumbo, S. Riggs, K. Stein

     AN ACT relating to property taxes.
     Amend KRS 132.200 to exempt property placed in a warehouse or distribution center for subsequent shipment to an out-of-state destination from local property taxes; repeal KRS 132.095; apply for tax assessments made on or after January 1, 2000.

HB 749 - AMENDMENTS


     HCS/FN/LM - Create new sections of KRS Chapter 132 to exempt from the property tax for state purposes, personal property placed in a warehouse or distribution center for subsequent distribution to an out-of-state location; provide that the tax rate levied by cities, counties, and school districts on personal property placed in a warehouse or distribution center for subsequent distribution to an out-of-state location shall be 80% of the tangible personal property levied for assessments made January 1, 2000, 50% of the tangible personal property levied for assessments made January 1, 2001, and exempt from city, county, and school district property tax for assessments made on or after January 1, 2002; provide that fire districts and special taxing districts may exempt property placed in a warehouse or distribution center for subsequent distribution to an out-of-state location; repeal KRS 132.095.

     Feb 17-introduced in House
     Feb 18-to Appropriations and Revenue (H)
     Feb 28-posted in committee
     Mar 3-reported favorably, 1st reading, to Calendar with Committee Substitute
     Mar 6-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Tuesday, March 7, 2000
     Mar 9-3rd reading, passed 94-0 with Committee Substitute
     Mar 10-received in Senate
     Mar 14-to Appropriations and Revenue (S)
     Mar 16-reported favorably, 1st reading, to Consent Calendar
     Mar 17-2nd reading, to Rules
     Mar 21-posted for passage in the Consent Orders of the Day for Wednesday, March 22, 2000
     Mar 22-3rd reading, passed 38-0
     Mar 23-received in House
     Mar 24-enrolled, signed by each presiding officer, delivered to Governor
     Mar 31-signed by Governor (Acts ch. 274)


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