Assigned to FIN FOR
COMMITTEE
Assigned to FIN FOR
COMMITTEE
ARIZONA STATE SENATE
Fifty-Third Legislature, Second Regular Session
property tax classification; biodiesel; extension
Purpose
Extends the class six property classification of real and personal property used for biodiesel manufacturing to December 31, 2028.
Background
Current statute assesses real and personal property and improvements to such property that is used specifically to manufacture 100 percent biodiesel fuel and its by-products, or motor vehicle biofuel and its by-products as class six property. The class six classification for this type of property is set to expire December 31, 2023. Other types of class six property include real and personal property located in a foreign trade or military reuse zone, as well as property used for renewable energy manufacturing (A.R.S. § 42-12006). The assessed valuation for class six property is five percent of the full cash value or limited valuation of the property (A.R.S. § 42‑15006).
There is no anticipated fiscal impact to the state General Fund associated with this legislation.
Provisions
1. Extends, from December 31, 2023 to December 31, 2028, the class six property classification of real and personal property and improvements used for manufacturing 100 percent biodiesel.
2. Makes technical changes.
3. Becomes effective on the general effective date.
Prepared by Senate Research
February 5, 2018
FB/ZD/lb