PROP TAX-DEVELOPMENT-EXEMPTION
Summary
Amends the Property Tax Code. Provides that, beginning in taxable year 2003, all property of regional economic development corporations that is used exclusively for the charitable and public purpose of creating, facilitating, and encouraging economic development is exempt from property taxation. Defines "economic development corporation" as a not-for-profit corporation that receives more than 75% of its funding from taxing districts. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2003
Committee Review
Floor Vote
Governor
Introduced Feb 19, 2003
Last action Jan 11, 2005
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
0
Committee
3
Jan 11, 2005
Senate · Failed
Session Sine Die
Mar 14, 2003
Senate · Referred to committee
Rule 3-9(a) / Re-referred to Rules
Feb 26, 2003
Senate · Referred to committee
Assigned to Revenue
Feb 19, 2003
Senate · Referred to committee
Referred to Rules
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Larry D. Woolard
DDemocratic
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