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Lawmakers weigh bill to standardize depreciation schedule for gas and water pipelines after state tax commission change
Summary
Sponsor Representative Wendy Hausman told the Ways and Means Committee that House Bill 531 would require county assessors to use a 20-year MACRS-style depreciation schedule, with a 20% residual, for water and gas distribution pipelines to prevent a recent State Tax Commission change from increasing ratepayer costs.
Representative Wendy Hausman presented House Bill 531 to the Ways and Means Committee, asking the panel to require county assessors to follow a uniform 20-year MACRS-style depreciation schedule (with a 20% residual) for water and gas distribution pipelines.
Proponents — including trade groups and utilities — said the State Tax Commission’s December guidance changing recommended depreciation to a 50-year schedule would increase assessed value in many counties and then pass higher property-tax costs through to utility customers when rates are reset. Ray McCarty of Associated…
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