IN SB0309

Legislative Description

State and local taxation. Eliminates the exemption for property taxes during the planning and construction of a residence that is conveyed upon completion to a low income individual by a nonprofit organization. Restricts but does not eliminate the exemption for property taxes for improvements on real property that are constructed, rehabilitated, or acquired for the purpose of providing low income housing. Specifies that the payments in lieu of taxes (PILOTS) that may be required from a property owner claiming such an exemption may not be imposed for an assessment date occurring after January 1, 2017. Eliminates the property tax deduction

Last Action

Committee Referrals