An Act To Annually Reimburse The Town Of Charleston For 43 Percent Of Property Tax Revenue Lost Due To The Mountain View Correctional Facility'S Tax-Exempt Status

This bill requires the state treasurer to annually reimburse the Town of Charleston for 43% of the property tax revenue the town lost each year because the Mountain View Correctional Facility is exempt from property taxes. The reimbursement covers the previous calendar year's loss, calculated based on the facility's tax-exempt status. It directly affects Charleston by providing financial compensation for lost local tax revenue. The key mechanism is a fixed 43% annual payment tied to documented revenue loss, not the facility's operations or future tax status.