SB 250 (2022)
Tax credit for qualified private community property owners who maintain their own roads, water, sewer, etc.
This bill did not become law.
Enables municipalities to adopt a tax credit for qualified private community property owners. This bill defines "qualified private community" as "a residential condominium, cooperative, open space subdivision or other community consisting of at least 4 units, the residents of which do not receive any tax abatement or tax exemption related to its construction, comprised of a community trust or other trust device, condominium association, road association, homeowners' association, or council of co-owners, wherein the cost of maintaining roads, streets, water and sewer infrastructure and providing essential services is paid for by a not-for-profit entity consisting exclusively of unit owners within the community."
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