This bill amends the General Property Tax Act of 1893, specifically section 7o, to clarify and expand the tax exemptions for properties owned by nonprofit charitable institutions and charitable trusts. It establishes that real or personal property owned and occupied by these entities is exempt from taxes when used solely for their intended charitable purposes. Additionally, properties leased or loaned to other nonprofit organizations, hospitals, or educational institutions for similar purposes are also exempt. The bill introduces specific conditions under which properties owned by nonprofit organizations can be exempt, including those leased to governmental entities and properties held by qualified conservation organizations.

Key changes in the bill include the insertion of definitions and clarifications regarding the types of nonprofit organizations eligible for tax exemptions, such as nursing homes and continuing care communities. The language also updates references to the roles of chief executive officers and includes new definitions for terms like "disabled person" and "transfer of ownership." Notably, the bill removes certain outdated terms and clarifies the conditions under which properties can maintain their tax-exempt status, ensuring that the legislation reflects current practices and definitions in the nonprofit sector.

Statutes affected:
House Introduced Bill: 211.7