Substitute Senate Bill No. 1249
Public Act No. 07-170
AN ACT CONCERNING TAX ABATEMENTS FOR PROPERTY CONVEYED TO A NONPROFIT LAND CONSERVATION ORGANIZATION.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective from passage and applicable to assessment years commencing on or after October 1, 2007) Any municipality may, upon approval by its legislative body, abate the real or personal property taxes due for any portion of a tax year or the interest on delinquent taxes with respect to any tax paid by a nonprofit land conservation organization that were due for a period before the date of acquisition but which were paid subsequent to the date of acquisition.
Approved June 29, 2007