Staff Analysis of the Legislation
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This bill provides for conditions which allow a family owned farm entity to discontinue a CUVA covenant without incurring any penalty other than having to pay the difference between the taxes owed without CUVA less the amount paid under CUVA in the year of the covenant breach. More significantly, the House added the text of HB 373 to this bill, which would make qualification for CUVA status significantly easier (thereby lowering tax digests) and would allow for attorneys' fees against boards of assessors if they lose in court on CUVA issues. |
