Bill Title: Property tax exemption for affordable housing. Provides a property tax exemption for affordable rental housing property when the property does not otherwise qualify for a property tax exemption. Provides that, in order to qualify for the exemption, the owner must meet the criteria applied by the Internal Revenue Service in determining if an organization that provides low income housing is considered charitable because it relieves the poor and distressed.

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2017-03-07 - First reading: referred to Committee on Ways and Means [SB0559 Detail]

Text: Latest bill text (Amended) [PDF]

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