Assigned to NRE                                                                                                               AS PASSED BY COW

ARIZONA STATE SENATE

Fifty-Fourth Legislature, First Regular Session

AMENDED

FACT SHEET FOR S.B. 1445

parks board; deputy; senate confirmation

(NOW: pipeline valuation)

Purpose

Requires the Arizona Department of Revenue (ADOR) to adjust the valuation of a pipeline for valuation of economic obsolescence and other criteria to determine full cash value.

Background

Statute directs ADOR to annually determine the valuation of all pipelines that operate in Arizona and report the locations, descriptions and valuations to the respective county assessor for inclusion on the county tax roll (A.R.S. Title 42, Chapter 14, Article 5).

There may be a fiscal impact to the state General Fund if adjusting valuation of pipelines impacts the amount of tax revenue collected.

Provisions

1. Requires ADOR to adjust the valuation of a pipeline for valuation of economic obsolescence and other criteria to determine full cash value.

2. Makes technical changes.

3. Becomes effective on the general effective date.

Amendments Adopted by Committee

1. Adopted the strike-everything amendment.

2. Adds a requirement that ADOR adjust the valuation of a pipeline for other criteria to determine full cash value.

Senate Action

NRE                2/20/19      DPA/SE      6-1-0

Prepared by Senate Research

February 28, 2019

KN/gs