Extends property tax exemption for Port Authority of Bloomington's economic development property through 2031.

This bill extends the property tax exemption for property held for economic development by the Port Authority of the city of Bloomington through 2031. The exemption applies to property acquired in May 2016 and previously exempt for taxes from 2017 through 2025. An initial application for the exemption must be filed with the assessor by June 30, 2025. The extension is contingent on the governing body of Bloomington and its chief clerical officer complying with statutory requirements.

Extends property tax exemption for Port Authority of Bloomington's economic development property through 2031.

This bill extends the property tax exemption for property held for economic development by the Port Authority of the city of Bloomington through 2031. The exemption applies to property acquired in May 2016 and previously exempt for taxes from 2017 through 2025. An initial application for the exemption must be filed with the assessor by June 30, 2025. The extension is contingent on the governing body of Bloomington and its chief clerical officer complying with statutory requirements.