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Senate Bill 0512

Senate Bill 0512

ARCHIVE (2003)

Latest Information

DIGEST OF SB512 (Updated January 22, 2003 4:47 pm - DI nm)

Payments in lieu of taxes. Requires the department of natural resources to make a semiannual payment in lieu of property taxes (PILOT) for land owned or leased by the department of natural resources, except for land used as a state park. Allows the legislative body of a county and the board of directors of a conservancy district to collect a PILOT. Provides that for purposes of calculating a PILOT, the land is considered to have an assessed value of $165 per acre. Establishes the PILOT transfer fund and appropriates from the state general fund to the PILOT transfer fund the amount necessary to make required distributions to political subdivisions.
    Current Status:
    In Committee - first House
    Latest Printing (PDF)