SB 776 – Eliminates a provision regarding how leases of commercial property at airports are assessed for property tax purposes

• Sponsor: Kraus
• LR Number: 5771S.01I
• Committee: Ways and Means and Fiscal Oversight
• Last Action: 3/22/2012 - Hearing Conducted S Ways and Means and Fiscal Oversight Committee
• Effective Date: August 28, 2012

Current Bill Summary

SB 776 - This act eliminates a provision of law that allows taxpayers leasing commercial property at certain publicly-owned airports to decrease the value of the lease for real estate property tax assessment purposes by the cost of any new construction or improvements to the property.

EMILY KALMER