This bill amends the General Property Tax Act of 1893, specifically section 7dd, to clarify and expand the definitions related to property ownership and principal residence. It introduces new definitions for "owner," which now includes individuals who are beneficiaries of a will or trust, those holding life leases, and cooperative housing corporations, among others. The definition of "principal residence" is also updated to reflect changes in language regarding the owner's intent and the conditions under which a property continues to qualify as a principal residence, particularly for those on active military duty.

Additionally, the bill modifies the definition of "qualified agricultural property" to specify that it does not include properties used for commercial purposes or for cultivating marihuana. It emphasizes that a parcel is considered primarily agricultural only if over 50% of its acreage is devoted to agricultural use. The bill also outlines the requirements for property owners to maintain their agricultural property status and introduces the concept of a "wildlife risk mitigation action plan" to help reduce disease risks between wildlife and livestock. Overall, the amendments aim to provide clearer guidelines for property tax exemptions and classifications.

Statutes affected:
House Introduced Bill: 211.7