AK HB267

Changes property tax exemption language for nonprofit religious, charitable, cemetery, hospital, and educational purposes from "exclusively" to "primarily" used.

Changes language in subsection (b) for religious organization structures from "solely" to "primarily" used for public worship, charitable purposes, religious administrative offices, religious education, or nonprofit hospitals.

Adds new subsection (o) exempting property under construction or reconstruction intended for exempt purposes if completed within two years of permit issuance.

Adds new subsection (p) allowing continued exemption for property used for purposes directly incidental to and vitally necessary for exempt use, or used for nonexempt purposes for an insubstantial period of time.

Clarifies that property producing income from nonprofit group use, educational classroom use, fundraising, or leasing to accomplish exempt purposes remains tax-exempt.