Ensuring nonprofit housing providers qualify for a property tax exemption when the property is temporarily used for certain community purposes other than affordable housing.
Summary
Expands the allowable use of property for the nonprofit low-income homeownership property tax exemption to include the rent or lease of property to an organization for certain community serving purposes.
Allows the property tax exemption to continue when the entity transfers ownership of the property to another nonprofit organization, association, or corporation for a use that also qualifies for and is granted a different property tax exemption.
From the Senate Bill Report (SB 6220), written by the Legislature's nonpartisan staff. Read the full report ↗
Did not passDid not pass · passed Senate, stalled in House
AN ACT Relating to ensuring nonprofit housing providers qualify for a property tax exemption when the property is temporarily used for certain community purposes other than affordable housing;