HB 1464 - Beginning January 1, 2019, this act allows telephone companies to make a one-time election of whether to have their property assessed in the same manner as railroads, as in current law, or in the same manner as railroads for property consisting of land and buildings and under a depreciation schedule for all other forms of property, as described in the act. If a school district whose operating levy is at the tax rate ceiling receives less tax revenue from a specific telephone company as a result of such telephone company selecting the alternate assessment method, it may by resolution impose a fee to be paid by the telephone company until such time as the school district receives voter approval to raise its tax operating levy. The fee shall be calculated as described in the act. A school district's receipt of such fee shall not be used in determining the amount of state aid that a district receives under the school foundation formula, in determining the amount that may be collected under a property tax levy, or for any other purpose.
This provision shall expire when no school district is eligible to collect a fee. (Section 153.030)
This act also requires the State Tax Commission to include information in its annual report on the difference in assessed value for any telephone company that is assessed under the provisions of this act. The Commissioner of Education shall transmit such information to each school district. (Section 138.445)
This act is identical to provisions contained in SB 768 (2018), is substantially similar to SB 257 (2017), HCS/HB 142 (2017), and HCS/HB 1898 (2016), and is similar to SB 305 (2015) and HCS/HB 857 (2015), and to provisions contained in SCS/HCS/HB 299 (2015) and SS/SB 339 (2015).
JOSHUA NORBERG