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HB 0344 - Ad Valorem Tax Exemption - Habitat for Humanity
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Tracking Level: Neutral
Sponsor: Matthew Gambill
Last Action: 5/2/2019 - Effective Date
House Committee: Ways and Means
Senate Committee: Finance
Assigned To:
Larry RamseyNext Bill
Sales Tax-LocalNext Bill

Staff Analysis of the Legislation

This bill would exempt from property tax properties held by a 501(c)(3) corporation for building/repairing single-family homes that are then financed by that corporation to individuals via no-interest loans. In the event any property is not ultimately financed in that manner, all back taxes will be due. This bill is tailored specifically for Habitat for Humanity. It is subject to referendum approval in November 2020.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text

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