Bills › 88th General Assembly
Authorizing a property tax exemption for certain property used for shared services and business assistance and including applicability provisions
Where it is now
- Done: IntroducedFebruary 6, 2019
- Done: SubcommitteeFebruary 6, 2019
- Stopped: House committeeDied when the General Assembly ended
- Next: Passes the House
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
This bill establishes a property tax exemption for property owned or leased and operated by a local or regional economic development organization, as defined in the bill, and used solely as a business incubator.35, and that provides shared services and business assistance to such businesses to improve their chances of success. The services provided may include but are not limited to receptionist, copying, computer, telephone, secretarial, and meeting services. The assistance provided may include but is not limited to advice concerning marketing plans, business plans, accounting, and administration.
Read the full explanation
7.7 provides that for a property tax credit or exemption enacted on or after January 1, 1997, if a state appropriation made to fund the credit or exemption is not sufficient to fully fund the credit or exemption, the political subdivision shall be required to extend to the taxpayer only that portion of the credit or exemption estimated by the department of revenue to be funded by the state appropriation. The bill applies to assessment years beginning on or after January 1, 2020.
House subcommittee
Named January 22, 2020. It hasn’t reported yet.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part