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Taxation committee approves introduction of RS 1666 to remove 2006 date limit from equipment exemption
Summary
A member of the House Committee on Taxation asked to introduce RS 1666, which would remove a Feb. 2006 date limit from the commercial and industrial machinery and equipment property tax exemption; the committee approved the request without objection.
A member of the Committee on Taxation asked the panel to introduce RS 1666, a repeal that would remove the Feb. 2006 date threshold from the commercial and industrial machinery-and-equipment property tax exemption.
The committee member said the current statute exempts equipment placed in service after Feb. 2006 and that “anything that is older than 02/2006 does not have an exemption.” The introducer added the bill would remove that date so that the exemption would apply to older equipment as well.
The committee took no questions and, according to the transcript, the request was approved without objection.
No fiscal notes, hearings, or formal votes on RS 1666 were recorded during this session. The committee scheduled consideration of committee minutes and other business for a subsequent meeting.
