Section 153.034

Title X TAXATION AND REVENUE

Chapter 153

Effective - 28 Aug 2021, 3 histories   

  153.034.  Electric companies, distributable and local property, definitions — wind energy projects property, how taxed — generation projects property, how taxed. — 1.  The term "distributable property" of an electric company shall include all the real or tangible personal property which is used directly in the generation and distribution of electric power, but not property used as a collateral facility nor property held for purposes other than generation and distribution of electricity.  Such distributable property includes, but is not limited to:

  (1)  Boiler plant equipment, turbogenerator units and generators;

  (2)  Station equipment;

  (3)  Towers, fixtures, poles, conductors, conduit transformers, services and meters;

  (4)  Substation equipment and fences;

  (5)  Rights-of-way;

  (6)  Reactor, reactor plant equipment, and cooling towers;

  (7)  Communication equipment used for control of generation and distribution of power;

  (8)  Land associated with such distributable property.

  2.  The term "local property" of an electric company shall include all real and tangible personal property owned, used, leased or otherwise controlled by the electric company not used directly in the generation and distribution of power and not defined in subsection 1 of this section as distributable property.  Such local property includes, but is not limited to:

  (1)  Motor vehicles;

  (2)  Construction work in progress;

  (3)  Materials and supplies;

  (4)  Office furniture, office equipment, and office fixtures;

  (5)  Coal piles and nuclear fuel;

  (6)  Land held for future use;

  (7)  Workshops, warehouses, office buildings and generating plant structures;

  (8)  Communication equipment not used for control of generation and distribution of power;

  (9)  Roads, railroads, and bridges;

  (10)  Reservoirs, dams, and waterways;

  (11)  Land associated with other locally assessed property and all generating plant land.

  3.  (1)  Any real or tangible personal property associated with a project which uses wind energy directly to generate electricity shall be valued and taxed by local authorities having jurisdiction under the provisions of chapter 137 and any other relevant provisions of law.  The method of taxation prescribed in subsection 2 of section 153.030 and subsection 1 of this section shall not apply to such property.

  (2)  The real or tangible personal property referenced in subdivision (1) of this subsection shall include all equipment whose sole purpose is to support the integration of a wind generation asset into an existing system.  Examples of such property may include, but are not limited to, wind chargers, windmills, wind turbines, wind towers, and associated electrical equipment such as inverters, pad mount transformers, power lines, storage equipment directly associated with wind generation assets, and substations.

  4.  For any real or tangible personal property associated with a generation project which was originally constructed utilizing financing authorized under chapter 100 for construction, upon the transfer of ownership of such property to a public utility, such property shall be valued and taxed by local authorities having jurisdiction under the provisions of chapter 137 and any other relevant provisions of law.  The method of taxation prescribed in subsection 2 of section 153.030 and subsection 1 of this section shall not apply to such property.

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(L. 1986 H.B. 1022, et al., A.L. 2019 H.B. 220, A.L. 2021 H.B. 734 merged with S.B. 44)