Senate Bill 370 proposes the creation of 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 no later than 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 new legal language specifies that the property eligible for the exemption must consist of a single facility used for the aforementioned purposes. The bill also outlines that the initial applicability of this act will begin with property tax assessments on January 1, 2026. This legislation may be reviewed by the Joint Survey Committee on Tax Exemptions due to its implications on state and local tax exemptions.