Bill Title: Property tax exemption for affordable housing. Establishes standards for affordable rental housing property to be exempt from property taxation when the property does not otherwise qualify for a property tax exemption. Specifies that the exemption applies to properties owned by a 501(c)(3) organization (or a disregarded entity of such an organization) that are 100% occupied by residents who qualify as low income.

Spectrum: Slight Partisan Bill (Republican 3-1)

Status: (Engrossed - Dead) 2016-02-08 - First reading: referred to Committee on Ways and Means [SB0225 Detail]

Text: Latest bill text (Engrossed) [PDF]

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