HB 5616 Summary

• Amends the General Property Tax Act to modify tax exemptions for real and personal property owned by nonprofit charitable institutions and charitable trusts.

• Expands exemption eligibility to include property leased or loaned by nonprofits to other nonprofits, nonprofit hospitals, or nonprofit educational institutions when used for charitable purposes.

• Establishes exemption for property owned by qualified conservation organizations held for conservation purposes and open to the public for educational or recreational activities.

• Allows local tax collecting units to authorize exemptions for a nonprofit's chief executive officer's principal residence when contiguous to the nonprofit's main place of business and required as a condition of employment.

• Permits nonprofits exempt under federal tax code section 501(c)(3) to claim exemptions if they operate skilled nursing facilities, homes for the aged, adult foster care facilities, or provide housing and services to disabled persons.