HB2431 increases the maximum annual limit for regularly scheduled fundraising activities for nonprofit public assembly halls and meeting places.

HB2431 amends the property tax exemption for nonprofit public assembly halls and meeting places by increasing the maximum annual limit for regularly scheduled fundraising activities from 15 days to 50 days. The bill specifies that the exemption is nullified if the property is used for more than 50 days in a calendar year. It also clarifies that the exemption does not apply to property used for pecuniary gain or to promote business activities for more than 15 days in a calendar year. The changes apply to taxes levied for collection in 2027 and thereafter.

HB2431 increases the maximum annual limit for regularly scheduled fundraising activities for nonprofit public assembly halls and meeting places.

HB2431 amends the property tax exemption for nonprofit public assembly halls and meeting places by increasing the maximum annual limit for regularly scheduled fundraising activities from 15 days to 50 days. The bill specifies that the exemption is nullified if the property is used for more than 50 days in a calendar year. It also clarifies that the exemption does not apply to property used for pecuniary gain or to promote business activities for more than 15 days in a calendar year. The changes apply to taxes levied for collection in 2027 and thereafter.