Senate Bill 370 proposes a property tax exemption for charitable organizations that own facilities dedicated to health education and fitness. To qualify for this exemption, the organization must be recognized as tax-exempt under section 501(c)(3) of the Internal Revenue Code, with confirmation from the IRS in a determination letter issued by March 5, 2009. Additionally, the organization must operate a financial assistance program accessible to all community members and provide free services to individuals living with a service member who is deployed overseas.

The bill creates a new section, 70.11 (12) (d), in the statutes to outline these requirements for property tax exemption. It specifies that the property must consist of a single facility used for the stated purposes, and the exemption will first apply to property tax assessments starting January 1, 2026. The bill may also be reviewed by the Joint Survey Committee on Tax Exemptions due to its implications on state and local taxes.