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AR SB833
Bill
Status
4/22/2015
Primary Sponsor
Bruce Maloch
Click for details
AI Summary
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Amends Arkansas Code § 26-26-1202(c) to establish new valuation methods for natural gas production equipment used in ad valorem taxation.
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Requires piping and equipment located between the first measurement meter and point of custody transfer to be valued at the greater of: (A) original cost minus 20-year straight-line depreciation, or (B) 25% of original cost.
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Establishes a separate valuation method for marginal gas wells (as defined in § 26-58-101), valued at 25% of the greater of the two calculation methods described above.
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Effective for assessment years beginning on or after January 1, 2015.
Legislative Description
To Amend The Valuation Procedures Used For Purposes Of Ad Valorem Taxes; And To Provide A Valuation Method For Natural Gas Piping And Equipment Used In A Natural Gas Production.
Last Action
Sine Die adjournment
4/22/2015