Brief (1)
HB 2063 would clarify that personal property located in student dormitories exempt from property taxes would also be exempt, retroactive to tax year 1998.
Background
The original bill, supported by Representative Jim Morrison, would have provided a property tax exemption beginning in tax year 2001 for personal property located in student dormitories of area vocational schools, area vocational-technical schools, technical colleges, and community colleges, provided such dormitories are owned and operated by the schools or colleges.
An exemption for the dormitory buildings and student unions of such institutions was enacted in 1999.
The Senate Assessment and Taxation Committee amended the bill at the suggestion of the Revisor to clarify retroactively as well as prospectively the tax treatment of personal property contained within all tax-exempt student dormitories.
A fiscal note from the Department of Revenue indicated that the original bill would be expected to have little significant impact on the statewide property tax base.
1. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/fulltext.cgi