(1.5) The general assembly hereby finds and declares that the fire and police pension association is a political subdivision of the state and that property owned, used, and occupied by the association is intended to be exempt from property tax as property of the state under section 4 of article X of the state constitution. Accordingly, for property tax years commencing on or after January 1, 2007, all real property owned, used, and occupied by the association and personal property owned and used by the association shall be exempt from the levy and collection of property tax.
Source: L. 96: Entire article added with relocations, p. 894, § 1, effective May 23. L. 2007: (1.5) added, p. 1541, § 1, effective May 31. L. 2010: (2)(a)(IV) and (2)(b) amended, (HB 10-1016), ch. 72, p. 245, § 1, effective August 11.
Editor's note: This section was formerly numbered as § 31-30-1004.