Bill
SF 1027
Overview: SF 1027, Certain airport property tax exemption provisions modifications, was referred to the Taxes committee on February 06, 2025.Purpose and Intent: The bill aims to mo
Overview: SF 1027, Certain airport property tax exemption provisions modifications, was referred to the Taxes committee on February 06, 2025.
Purpose and Intent: The bill aims to modify the property tax exemption provisions for certain airport properties, with the goal of providing tax relief and supporting the financial sustainability of airports.
Key Provisions:
- Expands the property tax exemption to include additional types of airport-owned properties, such as parking facilities and commercial developments.
- Allows airports to claim a partial property tax exemption for properties that are not used exclusively for aviation purposes.
- Requires the state's revenue department to establish guidelines and procedures for airports to apply for and maintain the property tax exemptions.
Affected Parties and Impacts: The bill would primarily benefit airport authorities and operators by reducing their property tax burden and improving their financial stability. It may also have indirect impacts on local governments, as the reduced tax revenue from airport properties could affect municipal budgets.
Procedural and Timeline Considerations: The bill has been referred to the Taxes committee, where it will undergo further review and consideration before potentially advancing to the next stage of the legislative process.
Compiled from official sources — confirm details with the bill’s official record.
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