Taxes, Real Property - As introduced, increases exemption to a maximum of 400 acres for certain nonprofit entities. - Amends TCA Section 67-5-212.

Summary

The bill changes the state property tax code so that nonprofit organizations that own or operate a premier tourist resort can receive a tax exemption on up to 400 acres of land. It is aimed at large nonprofit resort operators to support tourism and economic development. The amendment becomes effective as soon as the law is enacted.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share