SB3219 Summary

• Permits real property used for refining crude oil in counties with less than 1,000,000 inhabitants to be subject to tax assessment settlement agreements if litigation regarding its assessed valuation was pending or is pending as of January 1, 2011.

• Excludes wind turbines and ethanol producing facilities from the definition of pollution control facilities, though systems and appurtenances to ethanol facilities may still qualify as pollution control facilities.

• Requires the Department of Revenue to consider, where reasonable, actual or probable net earnings, net salvage value, and other relevant information when determining fair cash value of certified pollution control facilities.

• Changes the effective date of pollution control facility certificates to January 1 of the year in which the certificate is issued, rather than the date of application or construction.

• Takes effect immediately upon becoming law.