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Bill Summary · LC 1703

Summary of LC 1703 — Revise tax rate for agriculture property owned by certain nonprofits

Overview

LC 1703 is a draft bill titled “Revise tax rate for agriculture property owned by certain nonprofits.” The status is listed as a draft and “Died in Process.” The bill was introduced on November 20, 2024. The most recent action line shows the draft ultimately dying in process on May 20, 2025.

Purpose and Intent

  • The title indicates the bill seeks to revise the tax rate applied to agricultural property that is owned by certain nonprofit organizations.
  • Specific definitions (e.g., what constitutes “agriculture property” and which nonprofits qualify) and the exact revisions to the tax rate are not provided in the information available.

Key Provisions (available information)

  • The full text with concrete provisions is not included in the provided data. As such, the document does not enumerate:
    • Eligibility criteria for nonprofits (types of nonprofits or ownership structures that qualify)
    • The precise revised tax rate or calculation method
    • Effective date, transition provisions, or applicability to existing assessments
    • Any sunset, reporting, or oversight requirements

Note: The following potential elements are common in tax-rate revision bills and may appear in the actual text if it becomes active, but they are not specified here: definitions of "agriculture property" and "nonprofit," the rate schedule, situs/territory scope (local vs. state), and administration by a particular tax authority.

Affected Parties

  • Qualifying nonprofit organizations that own agricultural property.
  • Local taxing jurisdictions (assessors, treasurers, and possibly school districts) that administer property taxes and rely on the tax base.
  • Other taxpayers if the revision affects overall local tax rates or revenue distributions.

Fiscal and Revenue Implications

  • Any change in the tax rate could increase or decrease revenue available to local governments and school districts, depending on the direction and magnitude of the rate revision and the number of qualifying properties.
  • Without the actual rate details, quantification is not possible from the provided information.

Procedural History and Status

  • 2024-11-20: Drafter Assigned
  • 2025-01-29: Draft On Hold
  • 2025-03-21 to 2025-03-26: Various stages (legal review, input/proofing, Assembly drafting, delivery to requester)
  • 2025-03-26: Draft Ready for Delivery; Draft Delivered to Requester
  • 2025-05-20: Draft Died in Process
  • Overall status: The bill did not advance and is considered to have died in the legislative process.

Next Steps for Interested Readers

  • If you want a detailed understanding, obtain the full bill text to review definitions, eligibility, rate changes, and effective dates.
  • Monitor for any reintroduction or amendments in future sessions.
  • Consider contacting the legislative office or using official bill-tracking resources for updates.

Compiled from official sources — confirm details with the bill’s official record.

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