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Nonprofit Property Tax Exemptions (Watch)

CS/CS/SB 1214 (Gruters) and CS/CS/HB 889 (Borrero) specify the conditions for retaining the ad valorem exemption of an exempt property. The bills require that revenue derived from the incidental use of the property must support the charitable, religious, scientific or literacy purpose that the property is used for. CS/CS/HB 889 passed the House (118-0) and is awaiting action by the Senate. (Hughes)