HB 2150
Provides that land that would otherwise be eligible for exemption as land held by nonprofit corporation for building residences for low income individuals, but for failing to meet certain conditions related to amount and type of housing, type of transfer, income status of purchasers and corporation's history of such sales, is not eligible for exemption for property of benevolent and charitable institutions.
| Status | In House Committee (HREV) |
| Session | 2019 Regular Session |
| Requested by | (at the request of House Interim Committee on Revenue) |
| Fiscal impact | May have fiscal impact, but no statement yet issued |
| Revenue impact | May have revenue impact, but no statement yet issued |
Bill Text
Clarifies that nonprofit corporations failing to meet certain conditions for low-income housing development cannot claim property tax exemptions for benevolent and charitable institutions.
Overview#
Provides that land that would otherwise be eligible for exemption as land held by nonprofit corporation for building residences for low income individuals, but for failing to meet certain conditions related to amount and type of housing, type of transfer, income status of purchasers and corporation’s history of such sales, is not eligible for exemption for property of benevolent and charitable institutions. Takes effect on 91st day following adjournment sine die.
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2019-01-14 | H | First reading. Referred to Speaker's desk. |
| 2019-01-15 | H | Referred to Revenue. |
| 2019-06-30 | H | In committee upon adjournment. |