Introduced By: Representative Malik
Date Introduced : April 7, 1998
It is enacted by the General Assembly as follows:
SECTION 1. All the real and personal property of Generations Alumni Drum and Bugle Corps, incorporated as a nonprofit corporation, shall be exempt from state and local taxation for all real and personal property held by said nonprofit corporation which is not in excess of one hundred fifty thousand dollars ($150,000) so long as said property shall be used for the purposes for which said corporation was incorporated.
SECTION 2. This act shall take effect upon passage.