SB 196 - This act reclassifies stationary property used for transportation or storage of liquid and gaseous products, including, but not limited to, petroleum products, natural gas that is not propane or LP gas, water, and sewage, from real property to tangible personal property. (Section 137.010)

Beginning January 1, 2021, the provisions of current law relating to depreciable tangible personal property shall apply to all stationary property used for transportation or storage of liquid and gaseous products, including, but not limited to, petroleum products, natural gas that is not LP gas, water, and sewage that was or will be placed in service at any time. (Section 137.122)

This act is substantially similar to HB 757 (2021), SCS/SB 785 (2020), and HCS/HB 1907 (2020).

JOSH NORBERG

Statutes affected:
Introduced (0786S.02): 137.010, 137.122

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Senate Committee Minutes:
SENATE COMMITTEE MINUTES Bill No.: SB 196
Sponsor: Koenig
Hearing Date: 3/4/2021


COMMITTEE: Ways and Means

CHAIRMAN: Koenig

DATE REFERRED: 1/28/2021 DATE HEARING REQUESTED:



STAFF:
Rob Krosley
Josh Norberg
Daniel Wilhelm


WITNESSES GIVING INFORMATION:
Charles Arnold - Missouri State Assessors Association


WITNESSES FOR:
Jessica Petrie - Summit Utilities
Larry Pleus - Spire Missouri
Matt Landwehr - Thompson Coburn LLP
Jay Hahn - Missouri American Water
Zach Monroe - Ameren Missouri
Ray McCarty - Associated Industries of Missouri


WITNESSES AGAINST:
Scott Kimble - Missouri Association of School Administrators
Tom Schauwecker - Boone County
Arnie Dienoff