HB 3445

Abstract

Amends the Property Tax Code. Provides that the term "pollution control facility" also includes any system, method, construction, device or appliance appurtenant thereto, or any portion of any building or equipment, that is designed, constructed, installed or operated for the primary purpose of complying with federal or State requirements enacted or promulgated to eliminate, prevent, or reduce air pollution or water pollution. In a Section concerning valuation of pollution control facilities, removes a provision requiring the Department to consider the actual or probable net earnings attributable to the facilities in question, capitalized on the basis of their productive earning value to their owner. Provides that the effective date of a pollution control facility certificate shall be January 1 of the year in which the certificate is issued.