Enrolled Bill Summary

            House Bill 1689 amends the Tax Code to enable an organization that has been determined by the comptroller to be engaged primarily in performing charitable functions to apply for a local-option property tax exemption applicable to buildings and other real property and tangible personal property owned by the organization. Eligibility is limited to a statewide charitable organization or a chapter, subsidiary, or branch of the same. An exemption may not be granted unless adopted by the governing body of a taxing unit or by a favorable vote of a majority of its voters. House Bill 1689 limits to three years the duration of a tax exemption for certain property that consists of an incomplete improvement and the land on which the incomplete improvement is located, but otherwise provides that an exemption expires at the end of the fifth tax year after the year in which the exemption is granted. An exemption renewal may be sought, however, by obtaining a new determination from the comptroller and reapplying for the exemption.