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IN HB1160
Bill
Status
1/7/2016
Primary Sponsor
Vernon Smith
Click for details
AI Summary
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Permits the department of local government finance, with attorney general approval, to waive all or part of property tax liability for qualified nonprofits and religious entities.
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Defines qualified taxpayers as nonprofit corporations organized for educational, literary, scientific, religious, or charitable purposes, or nonprofit entities organized as churches or religious organizations.
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Requires properties to either qualify for tax exemption but lack timely application, or be newly acquired by the qualified taxpayer for exempt purposes before taxes were imposed.
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Mandates department determination that the waiver serves the best interest of the state and affected taxing units, considering property location, community services provided, economic conditions, and whether waiver expedites remaining tax payment.
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Applies to property taxes due and unpaid after June 30, 2016; cancels all penalties and interest upon waiver approval; effective July 1, 2016.
Legislative Description
Property taxes. Permits the department of local government finance, with the approval of the attorney general, to waive all or part of the property taxes imposed on property owned by a: (1) nonprofit corporation organized for educational, literary, scientific, religious, or charitable purposes; or (2) nonprofit entity, other than a corporation, that is organized as a church or religious entity. Provides that certain requirements must be met before a taxpayer's property tax liability may be waived.
Last Action
First reading: referred to Committee on Ways and Means
1/7/2016