House of Representatives

HB 2711

tax incentives; biodiesel; ethanol E85

(Now: property tax classification; biodiesel)

Sponsors: Representative Boone, Representative Barnes

DPA	Committee on Environment
W/D	Committee on Appropriations (B)
DPA	Caucus and COW
X	As Engrossed and As Passed the House

HB 2711 places real and personal property and improvements used specifically and solely to produce ethanol and its by-products or 100% biodiesel fuel and its by-products that are valued at full cash value in class six property classification.

History

Arizona’s property tax system classifies property according to its usage.  Each class of property is assigned an assessment ratio, pursuant to state law, ranging from 1% to 25%.  The assessment ratios are applied to both the primary and secondary values of a property and determine a property’s net assessed value. 

Class 6 property

Class 6 properties are noncommercial historic, foreign trade zone, qualifying military reuse zone, qualifying enterprise zone, qualifying environmental technology and qualifying environmental remediation properties, which are assigned a 5% assessment ratio. 

Provisions

· Places real and personal property and improvements used specifically and solely to produce ethanol or 100% biodiesel fuel and their by-products that are valued at full cash value in class six property classification.

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Forty-seventh Legislature

Second Regular Session          2          March 16, 2006

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