Senate Bill 0078
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DIGEST OF SB78 (Updated January 31, 2006 1:57 pm - DI 84)
Property tax deduction for farm security items. Provides a property tax deduction not to exceed $50,000 assessed value per year relating to secure storage of fertilizers and pesticides that could be used for terrorism or illegal drug manufacturing. Specifies that the deduction is available for certain chemical additives and for tangible personal property that is: (1) installed or placed in service after March 15, 2006; and (2) is used for the purpose of providing security for a fertilizer or pesticide by: (A) restricting access to or control of; or (B) conducting surveillance on or detecting unauthorized access to; the fertilizer or pesticide. Provides that in addition to a certified application statement, a person claiming the deduction must file a certification by the state chemist that the property for which the deduction is claimed has been installed or placed in service. Specifies that a person may not receive the deduction for security devices and the "automatic abatement deduction" for the same property.
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