98RS HB199


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HB 199/FN/LM (BR 323) - M. Long, R. Palumbo

     AN ACT relating to property taxes.
     Amend KRS 132.020 to provide that the property tax on machinery applies to manufacturing machinery owned or leased; amend KRS 132.200 to provide that manufacturing machinery whether owned or leased is subject to state taxes only.


     HCS/FN/LM - Amend KRS 131.020 to delete reference to "individuals and corporations"; amend KRS 132.200 to exempt machinery actually engaged in manufacturing, and products in the course of manufacture from local property tax, whether or not the machinery and products are actually owned by the individual or entity engaged in manufacturing.
     SFA (1, J. Pendleton) - Amend to exempt new boats and new marine equipment held for retail sale under a floor plan financing arrangement.

     Jan 8-introduced in House
     Jan 9-to Appropriations and Revenue (H); posted in committee
     Jan 13-reported favorably, 1st reading, to Calendar with Committee Substitute
     Jan 14-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for January 15, 1998
     Jan 16-3rd reading, passed 89-0 with Committee Substitute
     Jan 20-received in Senate
     Jan 21-to Appropriations and Revenue (S)
     Feb 24-reported favorably, 1st reading, to Calendar
     Feb 25-2nd reading, to Rules; floor amendment (1) filed
     Feb 26-posted for passage in the Regular Orders of the Day for February 27, 1998
     Feb 27-3rd reading, passed 35-0 with Floor Amendment (1)
     Mar 2-received in House; posted for passage for concurrence in Senate amendment
     Mar 4-House concurred in Senate Floor Amendment (1); passed 91-1
     Mar 5-enrolled, signed by each presiding officer, delivered to Governor
     Mar 16-signed by Governor

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