SB55-ASA1-AA61,2,114
70.11
(25) Nonprofit medical research foundations. Property owned and
5operated by a corporation, voluntary association, foundation
, or trust, no part of the
6net earnings of which inure to the benefit of any shareholder, member, director
, or
7officer thereof, which property is used exclusively for the purposes of: medical and
8surgical research the knowledge derived from which is applied to the cures,
9prevention, relief
, and therapy of human diseases; providing instruction for
10practicing physicians and surgeons, promoting education, training, skill
, and
11investigative ability of physicians, scientists
, and individuals engaged in work in the
12basic sciences which bear on medicine and surgery; or providing diagnostic facilities
1and treatment for deserving destitute individuals not eligible for assistance from
2charitable or governmental institutions. Such corporation, voluntary association,
3foundation
, or trust must have received a certificate under section
501 (c) (3) of the
4internal revenue code Internal Revenue Code as a nonprofit organization exempt for
5income tax purposes.
If a corporation, voluntary association, foundation, or trust
6owns and operates property, as described in this subsection, in more than one
7location, the exemption under this subsection applies only to the property in the one
8location, as certified by the department of revenue, that is the primary location for
9the receipt, aggregation, and analysis of research data. In this subsection, property
10under common ownership or control shall constitute property of a single corporation,
11voluntary association, foundation, or trust.".
SB55-ASA1-AA61,2,1514
73.03
(57) To certify property that is eligible for the property tax exemption
15under s. 70.11 (25).".
SB55-ASA1-AA61,2,19
17"(12m)
Nonprofit medical research foundation. The treatment of sections
1870.11 (25) and 73.03 (57) of the statutes first applies to the property tax assessments
19as of January 1, 2002.".
