Bill > S00064

This bill amends the real property tax law to subject certain state-owned lands to taxation for all purposes, exclusive of any improvements made by the state. Beginning in the 2024 tax year, state-owned lands will be subject to a gradually increasing percentage of the taxes that would be owed if the land were privately owned, reaching 30% of the full amount by 2028 and thereafter. The bill specifies that these payments will not reduce any other required payments in lieu of taxes owed to municipal corporations, and that the state will pay the greater of the amount owed under the new provision or any existing payment in lieu of taxes agreement.