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SB 179 (BR 2036) - E. Harris
AN ACT relating to property valuation.
Amend KRS 132.010 relating to definitions for levy and assessment of property taxes to expand the definition of agricultural land to include tracts less than ten contiguous acres when the area is used commercially for agricultural purposes when approved by the local property valuation administrator, tracts of land at least five contiguous acres commercially used for aquaculture, or tracts of land of less than five contiguous acres commercially used for aquaculture when approved by the local property valuation administrator; expand the definition of horticultural land to include tracts less than five contiguous acres when the area is used commercially for horticultural purposes when approved by the local property valuation administrator; in determining whether a tract that is less than ten acres may be defined as agricultural land, or whether a tract that is less than five acres may be defined as horticultural land; allow the property valuation administrator to require submission of a Schedule F form which was filed with the Internal Revenue Service or proof of gross agricultural or horticultural income of one hundred dollars per acre, or both.
SB 179 - AMENDMENTS
SFA (1, E. Scorsone) - In the definition of farmland, when the agricultural tract is less than 10 acres, or the aquacultural tract is less than 5 acres, and in the definition of horticultural land when the tract is less than 5 acres, require the tract to have an income of at least $100 per acre from commercial agriculture or horticulture to be included in the definition; delete language allowing a Property Valuation Administrator to require the tract owner to provide a IRS Schedule F form or proof of income
SFA (2, E. Harris) - When defining as agricultural land any tract less than ten contiguous acres used commercially for the production of livestock, livestock products, poultry, poultry products, and/or the growing of tobacco and/or other crops including timber, or any tract of land less than five acres used commercially for aquaculture, and when defining as horticultural land any tract less than five contiguous acres used commercially for horticulture, require the tract to generate an average annual gross income of at least one hundred dollars per acre rather than be approved by the local property valuation administrator; require that the annual gross income amounts where required shall be achieved in three out of five years preceding the tax year or that there is evidence of anticipated annual gross income of this amount; delete provisions that allow the local property valuation administrator to require a Schedule F form or proof of income.
SFA (3, E. Harris) - Delete all the new provisions but retain the expansion of the meaning of agricultural land to include tracts of land at least five contiguous acres commercially used for aquaculture.
Feb 7-introduced in Senate
Feb 11-to Agriculture and Natural Resources (S)
Feb 14-reported favorably, 1st reading, to Calendar; floor amendment (1) filed
Feb 15-2nd reading, to Rules
Feb 19-posted for passage in the Regular Orders of the Day for Thursday, February 21, 2002; floor amendment (2) filed
Feb 21-passed over and retained in the Orders of the Day for Tuesday, February 26, 2002; floor amendment (3) filed
Feb 26-3rd reading; floor amendments (1) and (2) withdrawn ; passed 38-0 with floor amendment (3)
Feb 27-received in House
Feb 28-to Agriculture and Small Business (H)
Mar 5-posted in committee
Mar 14-reported favorably, 1st reading, to Calendar
Mar 15-2nd reading, to Rules
Mar 22-posted for passage in the Regular Orders of the Day for Monday, March 25, 2002
Mar 28-3rd reading, passed 96-0
Mar 29-received in Senate; enrolled, signed by each presiding officer; delivered to Governor
Apr 5-signed by Governor (Acts ch. 198)
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