Kansas § 79-233 Property exempt from taxation; carbon dioxide capture, sequestration or utilization property

Kansas Statutes

§ 79-233 — Property exempt from taxation; carbon dioxide capture, sequestration or utilization property

Kansas·Ch. 79 TAXATION·Art. 2 PROPERTY EXEMPT FROM TAXATION

(a)The following described property, to the extent herein specified, shall be exempt from all property taxes levied under the laws of the state of Kansas: Any carbon dioxide capture, sequestration or utilization property; and any electric generation unit which captures and sequesters all carbon dioxide and other emissions.

(b)The provisions of subsection (a) shall apply from and after purchase or commencement of construction or installation of such property and for the five taxable years immediately following the taxable year in which construction or installation of such property is completed.

(c)The provisions of this section shall apply to all taxable years commencing after December 31, 2007.

(d)As used in this section, "carbon dioxide capture, sequestration or utilization property"

Free access — add to your briefcase to read the full text and ask questions with AI

(a) The following described property, to the extent herein specified, shall be exempt from all property taxes levied under the laws of the state of Kansas: Any carbon dioxide capture, sequestration or utilization property; and any electric generation unit which captures and sequesters all carbon dioxide and other emissions.
(b) The provisions of subsection (a) shall apply from and after purchase or commencement of construction or installation of such property and for the five taxable years immediately following the taxable year in which construction or installation of such property is completed.
(c) The provisions of this section shall apply to all taxable years commencing after December 31, 2007.
(d) As used in this section, "carbon dioxide capture, sequestration or utilization property" means: (1) Any machinery and equipment used to capture carbon dioxide from industrial and other anthropogenic sources or to convert such carbon dioxide into one or more products; (2) any carbon dioxide injection well, as defined in K.S.A. 2024 Supp. 55-1637, and amendments thereto; and (3) any machinery and equipment used to recover carbon dioxide from sequestration.

Kansas § 79-233 (Property exempt from taxation; carbon dioxide capture, sequestration or utilization property) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.