The bill amends the existing property tax exemption law for charitable organizations, allowing for a late application for a property tax exemption. Under the current law, charitable organizations, except for religious and educational institutions that are already exempt, must file a statement of financial condition and other relevant information with the municipality by June 1st each year to establish their eligibility for tax exemption. The bill introduces a provision that permits charitable organizations to file this application after the June 1st deadline if they can demonstrate to the selectmen that they were unable to meet the deadline due to accident, mistake, or misfortune. However, the application must be submitted and the exemption granted before the local tax rate for that year is approved.

The new legal language inserted into the current law specifies the conditions under which late applications can be accepted and exemptions granted. There are no deletions from the current law. The act is set to take effect on April 1, 2025, as stated in the bill's effective date clause. The bill was approved on July 12, 2024.

Statutes affected:
Introduced: 72:23
As Amended by the Senate: 72:23
Version adopted by both bodies: 72:23
CHAPTERED FINAL VERSION: 72:23