SB 783 – Authorizes telephone companies to elect to have their tangible personal property assessed in accordance with a depreciation schedule

• Sponsor: Onder
• LR Number: 4049S.01P
• Committee: Commerce, Consumer Protection, Energy and the Environment
• Last Action: 5/13/2016 - Informal Calendar S Bills for Third Reading--SB 783-Onder
• Calendar Position: 1
• Effective Date: August 28, 2016

Current Bill Summary

SB 783 - Currently, telephone companies have their tangible personal property assessed in the same manner as railroads. Beginning in the 2017 tax year, this act allows telephone companies to make a one-time decision to have their tangible personal property assessed in accordance with depreciation schedules.

This act is identical to SB 305 (2015) and substantially similar to HCS/HB 857 (2015). This act is substantially similar to a provision in SCS/HCS/HB 299 (2015) and SS/SB 339 (2015).

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