IN HB1173

Exempts real property from property taxation when owned by nonprofit organizations that qualify under federal tax-exempt status as labor, agricultural, or horticultural organizations (26 U.S.C. 501(c)(5)) or business leagues, chambers of commerce, and boards of trade (26 U.S.C. 501(c)(6))

Property must provide a benefit to the general public through uses such as conducting organizational meetings, official business consistent with the organization's charter, or training and educating members or the general public

Banquet facilities on the property are specifically excluded from the tax exemption

Effective date is retroactive to January 1, 2013, applying to assessment dates after February 28, 2013

Declared an emergency measure with the applicability provision expiring July 1, 2016