HB2261

THE CONTEXT: Real property and improvements used for agricultural purposes are Class Two property. A.

WHAT THE BILL DID: The final vetoed version would defines, in part, Class Two property as agricultural real property and change the article heading of Title 42, Chapter 12, Article 4 from Agricultural Property Classification to Agricultural Real Property Classification.

WHY IT MATTERED: The practical reason for this bill was to make the state tax, regulatory, or economic rule for property tax more predictable. It would defines, in part, Class Two property as agricultural real property, and would also change the article heading of Title 42, Chapter 12, Article 4 from Agricultural Property Classification to Agricultural Real Property Classification, rather than leave the current rule unchanged.