AZ SB1299

Amends Arizona Revised Statutes section 42-12009 to modify class nine property classification for nonprofit organizations.

Removes the requirement that nonprofit organizations be recognized under section 501(c)(3) of the Internal Revenue Code to qualify for class nine property classification.

Allows real property and improvements leased for the entire valuation year to and used exclusively by nonprofit organizations operating as charter schools, residential treatment and education facilities, or religious institutions to qualify for class nine classification.

Requires property owners leasing to these organizations to file an affidavit with the county assessor confirming the organization is the sole beneficiary of the tax classification change and that lease rates are consistent with market rates.

Applies retroactively to taxable years beginning from and after December 31, 2018.