Bill > S3301

This bill clarifies that stadiums and arenas owned by local government entities, such as counties and municipalities, are exempt from property taxation, meaning they will not be subject to property taxes. It amends existing laws to explicitly include these types of public facilities within the scope of tax exemptions for property owned by local governments and their agencies or authorities, regardless of how the property was acquired or its specific public use, including its use as a stadium or arena. The bill also clarifies that this exemption applies to leasehold estates and tenancies related to such publicly owned property.