The General Assembly Raised Bill No. 1183 aims to amend the current personal property tax exemptions for farming-related assets by allowing certain motor vehicles used exclusively for farming to qualify for these exemptions. Specifically, the bill proposes to replace the existing language in subsection (a) of section 12-91, which previously exempted "all farm machinery" but excluded motor vehicles, with new language that includes "any farm machinery" and "motor vehicles" as long as they are used exclusively for farming purposes. This change is intended to provide tax relief to farmers by broadening the scope of eligible property for tax exemptions.

The bill also stipulates that the exemption applies to motor vehicles and farm machinery with an assessed value of up to one hundred thousand dollars, and it clarifies that only one exemption can be granted to each farmer, group of farmers, partnership, or corporation. Additionally, it specifies that subdivision (38) of section 12-81, which may pertain to other exemptions, will not apply to those receiving the new exemption under this subsection. The proposed changes are set to take effect on October 1, 2025.