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HB130/FN/LM (BR298) - J. Short, C. Howard, J. Bell, H. Collins, L. Combs, J. Gooch Jr., C. Harris, F. Steele
AN ACT relating to the property tax on unmined coal.
Amend KRS 132.820 to establish a standard value for unmined coal reserves that have not been mined during the 10-year period immediately preceding the assessment date, for purposes of the state and local property tax on unmined coal, setting the standard value thereof at zero unless information is available that warrants any deviation; require the Department of Revenue to publish an informational brochure explaining the basis of this tax, the valuation procedures used, and the procedure for taxpayers to follow to appeal assessments; amend KRS 131.190 to conform; make technical corrections; EFFECTIVE for property assessed on and after January 1, 2015.
Jan 06, 2015 - introduced in House
Jan 08, 2015 - to Appropriations & Revenue (H)