This bill proposes the creation of a new subsection to section 57-02-08 of the North Dakota Century Code, which would establish a property tax exemption for properties owned by charitable organizations that are primarily used for equine events not conducted for profit. The intent of this legislation is to support charitable organizations that facilitate equine-related activities, thereby promoting community engagement and welfare.

The bill specifies that the exemption applies to properties utilized for these equine events, ensuring that such organizations can operate without the financial burden of property taxes. The effective date for this exemption is set for taxable years beginning after December 31, 2024, allowing time for implementation and awareness among affected organizations.