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HF100 NINTH ENGROSSMENT REVISOR BD 1­10100-9 <br />145.1 parcels qualifies for the reduced classification rate, except that contiguous parcels owned <br />145.2 by the same person or entity shall be eligible for the first -tier value classification rate on <br />145.3 each separate business operated by the owner of the property, provided the business is <br />145.4 housed in a separate structure. For the purposes of this subdivision, the first tier means the <br />145.5 first $150,000 of market value. Real property owned in fee by a utility for transmission line <br />145.6 right-of-way shall be classified at the classification rate for the higher tier. <br />145.7 For purposes of this subdivision, parcels are considered to be contiguous even if they <br />145.9 are separated from each other by a road, street, waterway, or other similar intervening type <br />145.9 of property. Connections between parcels that consist of power lines or pipelines do not <br />145.10 cause the parcels to be contiguous. Property owners who have contiguous parcels of property <br />145.11 that constitute separate businesses that may qualify for the first -tier classification rate shall <br />145.12 notify the assessor by July 1, for treatment beginning in the following taxes payable year. <br />145.13 (2) All personal property that is: (i) part of an electric generation, transmission, or <br />145.14 distribution system; or (ii) part of a pipeline system transporting or distributing water, gas, <br />145.15 crude oil, or petroleum products; and (iii) not described in clause (3), and all railroad <br />145.16 operating property has a classification rate as provided under clause (1) for the first tier of <br />145.17 market value and the remaining market value. In the case of multiple parcels in one county <br />145.18 that are owned by one person or entity, only one first tier amount is eligible for the reduced <br />145.19 rate. <br />145.20 (3) The entire market value of personal property that is: (i) tools, implements, and <br />145.21 machinery of an electric generation, transmission, or distribution system; (ii) tools, <br />145.22 implements, and machinery of a pipeline system transporting or distributing water, gas, <br />145.23 crude oil, or petroleum products; or (iii) the mains and pipes used in the distribution of <br />145.24 steam or hot or chilled water for heating or cooling buildings, has a classification rate as <br />145.25 provided under clause (1) for the remaining market value in excess of the first tier. <br />145.26 (4) Real property used for raising, cultivating, processing, or storing cannabis plants, <br />145.27 cannabis flower, or cannabis products for sale has a classification rate as provided under <br />145.28 clause (1) for the first tier of market value and the remaining market value. As used in this <br />145.29 paragraph, "cannabis plant" has the meaning given in section 342.01, subdivision 18, <br />145.30 "cannabis flower" has the meaning given in section 342.01, subdivision 15, and "cannabis <br />145.31 product" has the meaning given in section 342.01, subdivision 19. <br />145.32 EFFECTIVE DATE. This section is effective beginning with assessment year 2024 <br />145.33 and thereafter. <br />Article 2 Sec. 3. 145 <br />