Missouri HB 845: Modifies provisions relating to taxation of certain energy-producing property

Bill Text

FIRST REGULAR SESSION
HOUSE COMMITTEE SUBSTITUTE FOR
HOUSE BILL NO. 845
101ST GENERAL ASSEMBLY
1864H.02C DANA RADEMAN MILLER, Chief Clerk
AN ACT
To repeal sections 153.030 and 393.1073, RSMo, and to enact in lieu thereof two new sections
relating to energy property taxation.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Sections 153.030 and 393.1073, RSMo, are repealed and two new sections
2 enacted in lieu thereof, to be known as sections 137.123 and 153.030, to read as follows:
137.123. 1. Beginning January 1, 2022, for purposes of assessing all real property,
2 excluding land, or tangible personal property associated with a project that uses wind
3 energy directly to generate electricity, the following depreciation tables shall be used to
4 determine the true value in money of such property. The first year shown in the table shall
5 be the year immediately following the year of construction of the property. The original
6 costs shall reflect either:
7 (1) The actual and documented original property cost to the taxpayer, as shall be
8 provided by the taxpayer to the assessor; or
9 (2) In the absence of actual and documented original property cost to the taxpayer,
10 the estimated cost of the property by the assessor, using an authoritative cost guide.
11
12 For purposes of this section, and to estimate the value of all real property, excluding land,
13 or tangible personal property associated with a project that uses wind energy directly to
14 generate electricity, each assessor shall apply the percentage shown to the original cost for
15 the first year following the year of construction of the property, and the percentage shown
16 for each succeeding year shall be the percentage of the original cost used for January first
17 of the respective succeeding year as follows:
18
EXPLANATION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended
to be omitted from the law. Matter in bold-face type in the above bill is proposed language.

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19 Year Percentage
20 1 40%
21 2 40%
22 3 37%
23 4 37%
24 5 35%
25
26 Any real property, excluding land, or tangible personal property associated with a project
27 that uses wind energy directly to generate electricity shall continue in subsequent years to
28 have the depreciation percentage last listed in the appropriate column in the table.
29 2. Nothing in this section shall be construed to prohibit a project from engaging in
30 enhanced enterprise zone agreements under sections 135.950 to 135.973 or similar tax
31 abatement agreements with state or local officials or to affect any existing enhanced
32 enterprise zone agreements.
153.030. 1. All bridges over streams dividing this state from any other state owned,
2 used, leased or otherwise controlled by any person, corporation, railroad company or joint stock
3 company, and all bridges across or over navigable streams within this state, where the charge is
4 made for crossing the same, which are now constructed, which are in the course of construction,
5 or which shall hereafter be constructed, and all property, real and tangible personal, owned, used,
6 leased or otherwise controlled by telegraph, telephone, electric power and light companies,
7 electric transmission lines, pipeline companies and express companies shall be subject to
8 taxation for state, county, municipal and other local purposes to the same extent as the property
9 of private persons.
10 2. And taxes levied thereon shall be levied and collected in the manner as is now or may
11 hereafter be provided by law for the taxation of railroad property in this state, and county
12 commissions, county boards of equalization and the state tax commission are hereby required
13 to perform the same duties and are given the same powers, including punitive powers, in
14 assessing, equalizing and adjusting the taxes on the property set forth in this section as the county
15 commissions and boards of equalization and state tax commission have or may hereafter be
16 empowered with, in assessing, equalizing, and adjusting the taxes on railroad property; and an
17 authorized officer of any such bridge, telegraph, telephone, electric power and light companies,
18 electric transmission lines, pipeline companies, or express company or the owner of any such toll
19 bridge, is hereby required to render reports of the property of such bridge, telegraph, telephone,
20 electric power and light companies, electric transmission lines, pipeline companies, or express
21 companies in like manner as the authorized officer of the railroad company is now or may
22 hereafter be required to render for the taxation of railroad property.

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23 3. On or before the fifteenth day of April in the year 1946 and each year thereafter an
24 authorized officer of each such company shall furnish the state tax commission and county clerks
25 a report, duly subscribed and sworn to by such authorized o