State payments in lieu of property taxes.

Authors: Representative Lloyd Arnold

Co-authors: Representative Eric Allan Koch

Digest

Requires the state to make payments in lieu of property taxes (PILOT) for qualified parcels in counties in which not less than 15% of all land in the county is: (1) owned or leased by the state; and (2) subject to an exemption from property taxes. Defines a "qualified parcel" as a parcel that is: (1) owned or leased by the state; (2) subject to an exemption from property taxes; and (3) located in a county to which the act applies. Provides that a county containing qualified parcels is entitled to receive PILOTs from the state. Provides that for purposes of calculating a PILOT, each acre of the qualified parcel is considered to have an assessed value of one-fourth of the statewide agricultural land base rate value. Annually appropriates from the state general fund the amount necessary to pay the required PILOTs.