HJR108 HFA BOGGS & WHITE 3-8

    Delegate Boggs and White move to amend the amendment to the resolution on page two, line twelve, following the word “organization’s” by striking the words “primary purpose or” and inserting in lieu thereof the words “nonprofit purpose”; and

    On page two, line nine, following the word “follows” and the semicolon, by striking the remainder of the amendment and inserting in lieu thereof the following:

    “To amend the State Constitution to exempt from property tax certain properties in this state owned by nonprofit youth organizations and built at a cost of at least $100 million whether or not the property is used for the nonprofit youth organization’s charitable or nonprofit purpose to help raise funds for the benefit of the nonprofit youth organization. If approved, the Legislature would be required to enact laws that would protect local and regional businesses from unfair competition and unreasonable loss of revenue caused by the nonprofit organization use of the tax exemption.”