HB 1272 Summary

• Requires the Department of Natural Resources to make semiannual payments in lieu of taxes (PILOT) beginning in 2012 for state park parcels of at least 100 acres that are exempt from property taxes.

• Defines qualified parcels as land owned or leased by DNR on March 1 of the preceding year, consisting of at least 100 acres, used as a state park, and subject to property tax exemption.

• Calculates PILOT amounts using each acre's assessed value at one-third of the statewide agricultural land base rate, with counties and conservancy districts entitled to receive payments.

• Requires semiannual PILOT payments on May 1 and November 1 each year, with the state general fund appropriated to cover all required payments.

• Allows provisional PILOT payments of 50% of the prior year amount when tax rates have not been determined, with reconciliation and adjustments made within 10-20 days after rates are set.