Algae tax bill passed 50-0 by Iowa Senate
May 13, 2013
bill that classifies real estate used for the production of algae as agricultural for property tax purposes was approved on a 50-0 vote by the Iowa Senate on Tuesday.
The real estate must be an enclosed pond or must be on land containing machinery or equipment that uses a light source to provide photonic energy, referred to as a photobioeactor, according to House File 632. The algae must be cultivated and produced for harvesting as a crop for animal feed, food, nutritionals, or biofuel production.