Provide a 5 year prepaid property tax exemption during subdivision development

Corrected a grammatical error in Section 2 of the amended statute where the word 'Except' was accidentally repeated, changing 'In Except as provided' to 'In Except as provided' (removing the duplicate 'Except').

Removed excessive capitalization (all-caps) from specific terms like 'RESIDENTIAL', 'SUBDIVISION', and 'NEW SECTION' throughout the bill text to match standard legislative formatting conventions.

Adjusted the bill's title and section headers to use standard capitalization (e.g., changing 'AN ACT REVISING...' to 'AN ACT REVISING...') and corrected the bill number format from 'SB0337.2' to 'SB 337'.

Changed the bill title and body text to specify 'residential subdivision development' instead of general 'subdivision development', limiting the tax exemption to residential projects.

Updated references to property types to include 'residential property' and 'residential real property' to ensure clarity on what assets qualify for the exemption.

Replaced the term 'habitable dwelling' with 'habitable residential structure' in multiple sections to standardize the definition of qualifying buildings.

The bill number was changed from LC 1029 to SB 337, indicating it has been formally introduced in the Senate.

The primary sponsor was added as G. Hertz, providing official attribution for the legislation.

The 'LC 1029' identifier was removed from the header and page footers as the bill was renumbered.