Relating to: modifications to the property tax exemption for nonprofit organizations that sell property to low-income persons. (FE)

This bill modifies property tax exemptions for nonprofit organizations that sell homes to low-income buyers. It allows nonprofits to qualify for tax breaks only if they either offer zero-interest loans or restrict sales to households earning less than 120 percent of the area median income. The changes apply to property tax assessments starting January 1, 2026, and affect nonprofits that rehabilitate, redevelop, or construct housing for low-income residents. The legislation removes a previous provision that allowed broader exemptions without income restrictions.