SB 23-204

Senate Bill 23-204 corrects an error that mistakenly extended a property tax exemption for agricultural equipment used in controlled environment facilities by one extra year. Instead of the intended five-year period, the exemption was set to last six years due to a typo. The bill fixes this mistake and ensures the exemption lasts only five years as originally planned. It was signed into law on May 12, 2023, and will take effect on August 7, 2023. This change affects agricultural businesses that use such equipment in controlled environments.

Official Summary

Due to a defective statutory date reference, a property tax exemption for agricultural equipment that is used in any controlled environment agricultural facility was going to be in effect for 6 years instead of the 5 years intended by the general assembly when it enacted the property tax exemption. The act corrects the defective date reference so that the exemption will only be in effect for 5 years. APPROVED by Governor May 12, 2023 EFFECTIVE August 7, 2023 NOTE: This act was passed without a safety clause and takes effect 90 days after sine die. (Note: This summary applies to this bill as enacted.)

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