Session Law

Identifying Information:L. 2001 ch. 192
Other Identifying Information:2001 Senate Bill 138
Tax Type:Property Tax
Brief Description:An Act relating to property taxation; concerning the exemption for farm storage and drying equipment; amending K.S.A. 79-201d and repealing the existing section.
Keywords:


Body:

CHAPTER 192

SENATE BILL No. 138


An Act relating to property taxation; concerning the exemption for farm storage and drying

equipment; amending K.S.A. 79-201d and repealing the existing section.

Be it enacted by the Legislature of the State of Kansas:

Section 1. K.S.A. 79-201d is hereby amended to read as follows: 79-

201d. The following described property, to the extent herein specified,

shall be and is hereby exempt from all property or ad valorem taxes levied

under the laws of the state of Kansas:

First. All hay and silage. The term ``hay'' shall include alfalfa, brome,

clover, and prairie hays and all other grasses and plants which are har-

vested for forage. The term ``silage'' shall include corn, milo, sorghum

and all other plants, cut, compressed and preserved by its own fermen-

tation for fodder.

Second. All farm storage and drying equipment meeting eligibility

requirements, as provided in Title 7, Chapter XIV, Subchapter B, Part

1474 of the Code of Federal Regulations and as in effect on December

31, 1977, for loans under the federal farm storage and drying equipment

loan program, whether financed or not, and all used farm storage and

drying equipment meeting such eligibility requirements but for the fact

that the same was not purchased from the commodity credit corporation,

which equipment is used exclusively for the storage or drying of haylage,

silage, corn, oats, barley, grain sorghum, wheat, rye, soybeans, flaxseed,

rice, dry edible beans or sunflower seed, for any eight of the 10 calendar

years next following the calendar year in which such equipment is ac-

quired or construction thereof is completed. The provisions of this sub-

section shall apply to equipment acquired or the construction of which

was completed during the calendar year 1977, or any year thereafter.

The provisions of this section shall apply to all taxable years commenc-

ing after December 31, 1988 2000.

Sec. 2. K.S.A. 79-201d is hereby repealed.

Sec. 3. This act shall take effect and be in force from and after its

publication in the statute book.

Approved May 21, 2000.


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Date Composed: 09/25/2001 Date Modified: 09/25/2001