The Committee on Finance proposes the following amendment (LC-125.DG0002S):

Amend the bill, as and if amended, by striking SECTION 2 and inserting:

SECTION 2.This act takes effect upon approval by the Governor and applies prospectively to property of nonprofit housing corporations or their instrumentalities eligible and first making application for the exemption for property tax years beginning after 2025 2026. This act shall not apply to any project that, prior to approval by the Governor of this act, had submitted an application or been approved for an exemption under Section 12-37-220(B)(11)(e). Provided, however, all exempt projects under Section 12-37-220(B)(11)(e) are required to submit the required annual certifications to the department.

Renumber sections to conform.

Amend title to conform.