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H.B. 64
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MOBILE AND MANUFACTURED HOME
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AMENDMENTS
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2000 GENERAL SESSION
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STATE OF UTAH
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Sponsor: Craig W. Buttars
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AN ACT RELATING TO PROPERTY TAX; AMENDING THE TANGIBLE PERSONAL
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PROPERTY TAX EXEMPTION FOR INVENTORY AS IT APPLIES TO MANUFACTURED
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AND MOBILE HOMES.
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This act affects sections of Utah Code Annotated 1953 as follows:
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AMENDS:
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59-2-1114, as last amended by Chapter 264, Laws of Utah 1998
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Be it enacted by the Legislature of the state of Utah:
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Section 1.
Section
59-2-1114
is amended to read:
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59-2-1114. Exemption of inventory or other tangible personal property held for sale.
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(1) Tangible personal property present in Utah on the assessment date, at noon, held for
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sale in the ordinary course of business or for shipping to a final out-of-state destination within 12
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months and which constitutes the inventory of any retailer, wholesaler, distributor, processor,
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warehouseman, manufacturer, producer, gatherer, transporter, storage provider, farmer, or
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livestock raiser, is exempt from property taxation.
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(2) This exemption does not apply to:
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(a) inventory which is not otherwise subject to personal property taxation;
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(b) mines;
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(c) natural deposits; or
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(d) a manufactured home or mobile home [which is not sited at a dealer's lot or storage
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facility and] which is sited at a location where occupancy could take place.
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(3) As used in this section:
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(a) "Assessment date" means:
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(i) for tangible personal property and vehicles other than vehicles described in Subsection
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(ii), January 1; and
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(ii) for vehicles brought into Utah from out-of-state, the date the vehicles are brought into
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Utah.
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(b) "Inventory" means all items of tangible personal property described as materials,
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containers, goods in process, finished goods, severed minerals, and other personal property owned
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by or in possession of the person claiming the exemption.
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(c) (i) "Mine" means a natural deposit of either metalliferous or nonmetalliferous valuable
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mineral.
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(ii) "Mine" does not mean a severed mineral.
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(d) "Natural deposit" means a metalliferous or nonmetalliferous mineral located at or
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below ground level that has not been severed or extracted from its natural state.
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(e) "Severed mineral" means any mineral that has been previously severed or extracted
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from a natural deposit including severed or extracted minerals that:
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(i) are stored above, below, or within the ground; and
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(ii) are ultimately recoverable for future sale.
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(4) The commission may adopt rules to implement the inventory exemption.
Legislative Review Note
as of 12-17-99 3:39 PM
A limited legal review of this legislation raises no obvious constitutional or statutory concerns.