Bill No.: HB0103                  Drafter:  MQ

LSO No.:  07LSO-0123              Effective Date:  1/1/2008

Enrolled Act No.:  HEA0004

Chapter No.:       4

Prime Sponsor:     Joint Revenue Interim Committee

Catch Title:       State assessed property.

Subject:  Provides for the property tax (ad valorem) assessment of certain telecommunications property.

Summary/Major Elements:

· Includes telecommunications, cable and satellite television in the definition of "industrial property".

· Industrial property is assessed for property taxation purposes by the state (department of revenue).

· Industrial property is generally assessed at 11.5%, but this bill provides that telecommunications property (previously assessed at 11.5%) and cable and satellite television shall be assessed at 9.5% (similar to other commercial property).