This bill amends the existing property tax exemption laws for religious organizations by adding specific provisions for rental properties owned by these entities. The new language inserted into RSA 72:23 includes a definition of a "religious organization" and outlines the conditions under which these organizations can claim tax exemptions. Specifically, it allows a religious organization to rent out not more than one church parsonage or similar residential property, as well as one worship building, and remain exempt from taxation on those properties. The rental income generated must be used for the religious leader's compensation, maintenance of the worship building or parsonage, or funding standard religious programs. Additionally, the bill stipulates that an organization can only claim one exemption under this provision.

The bill also includes a deletion of previous language that may have restricted the scope of property tax exemptions for religious organizations. The effective date of this act is set for all taxable periods ending after December 31, 2024, and it will take effect upon passage. This legislation aims to provide clearer guidelines and support for religious organizations in managing their properties while ensuring that the income generated is directed towards their religious missions.

Statutes affected:
Introduced: 72:23