SB 426 Modifies property tax exemptions for property located in enhanced enterprise zones
Sponsor: Wasson
LR Number: 1714S.03C Fiscal Notes
Committee: Economic Development
Last Action: 5/12/2017 - Informal Calendar S Bills for Perfection--SB 426-Wasson, with SCS Journal Page:
Title: SCS SB 426 Calendar Position:
Effective Date: August 28, 2017

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Current Bill Summary


SCS/SB 426 - Currently, property tax exemptions for property located in an enhanced enterprise zone may not be granted for a period longer than twenty-five years from the date on which the enhanced enterprise zone was created. This act removes the language that limits the exemption to the date on which the zone is created. This act also requires that no exemption be granted during the final ten years of an enhanced enterprise zone for a period longer than ten years.

This act is identical to a provision contained in CCS/HCS/SB 111 (2017) and CCS/HCS/SB 302 (2017).

JOSHUA NORBERG