Amends the Property Tax Code. Provides that regional wastewater facilities shall be valued at 33 1/3% of the fair cash value of the facility, with consideration given to the probable net value that could be realized by the owner if the facility were removed and sold at a fair, voluntary sale, giving due account to the expense of removal, site restoration, and transportation. Effective immediately.
Senate Amendment 1: Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Provides that the valuation under the introduced bill applies only to the qualifying wastewater facility itself and not to the land on which the facility is located. Further amends the Property Tax Code to provide that the alternate valuation for qualifying water treatment facilities applies only to the qualifying water treatment facility itself and not to the land on which the facility is located. Effective immediately.