SB23-204
Correct Erroneous Property Tax Exemption End Date
Concerning the correction of a defective date reference to properly reflect the legislative intent that agricultural equipment that is used in any controlled environment agricultural facility be exempt from the property taxation for only five years.
Session:
2023 Regular Session
Subjects:
Bill Summary
Fiscal Policy & Taxes
Local Government
Due to a defective statutory date reference, a property tax exemption for agricultural equipment that is used in any controlled environment agricultural facility was going to be in effect for 6 years instead of the 5 years intended by the general assembly when it enacted the property tax exemption. The act corrects the defective date reference so that the exemption will only be in effect for 5 years.
APPROVED by Governor May 12, 2023
EFFECTIVE August 7, 2023
NOTE: This act was passed without a safety clause and takes effect 90 days after sine die.
(Note: This summary applies to this bill as enacted.)