Bill
HF 1698
Overview: HF 1698, "Property tax exemption allowed for certain leased land", is a bill that has had authors added (Pursell and Smith).Purpose and Intent: The bill seeks to provide
Overview: HF 1698, "Property tax exemption allowed for certain leased land", is a bill that has had authors added (Pursell and Smith).
Purpose and Intent: The bill seeks to provide a property tax exemption for certain types of leased land, potentially benefiting landowners and leaseholders.
Key Provisions:
- Allows a property tax exemption for land that is leased to a nonprofit organization for the purpose of affordable housing, community gardens, or urban agriculture
- Specifies eligibility criteria and application process for the tax exemption
Affected Parties and Impacts: The primary affected parties would be landowners who lease their property to nonprofit organizations for the specified purposes, as well as the nonprofit organizations and the individuals they serve (e.g., affordable housing residents, community gardeners, urban farmers). The tax exemption could make it more financially feasible for these types of land uses.
Procedural and Timeline Considerations: The bill has had authors added, indicating it is progressing through the legislative process. Further committee consideration and votes by the full legislature will be required before the bill can be enacted.
Compiled from official sources — confirm details with the bill’s official record.
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