11-LA125

2011 -- S 0151

Enacted 07/01/11

A N A C T

AUTHORIZING HATTIE IDE CHAFFEE NURSING HOME TO RECEIVE, HOLD, TRANSMIT AND CONVEY REAL AND PERSONAL ESTATE TO AN AMOUNT NOT EXCEEDING TWENTY MILLION DOLLARS

Introduced By: Senators DeVall, and DaPonte

Date Introduced: February 03, 2011

It is enacted by the General Assembly as follows:

SECTION 1. Section 1 of an act passed in the January 1969 session entitled “An Act

Authorizing Hattie Ide Chaffee Nursing Home To Receive, Hold, Transmit and Convey Real and

Personal Estate to an Amount Not Exceeding Two and One Half Million Dollars” is hereby

amended to read as follows:

Section 1. Hattie Ide Chaffee Nursing Home, a non-business corporation, is hereby

authorized to receive, hold, transmit and convey real and personal property to an amount not

exceeding two and one half million dollars. twenty million dollars ($20,000,000) in value and

shall be exempt from state and local taxation for its real and personal property, the value of which

is not to exceed twenty million dollars ($20,000,000).

SECTION 2. This exemption from taxation shall be retroactive through all preceding

years.

SECTION 3. This act shall take effect upon its passage and all acts and parts of acts

inconsistent herewith are hereby repealed.

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LC00776

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