sec.47Exemption for land owned by or for charitable institution

sec.47 Exemption for land owned by or for charitable institution

This section applies to all land owned by, or held in trust for, a charitable institution, other than land to which section 48 applies. The land is exempt land if— it is used predominantly by the charitable institution for 1 or more exempt purposes; or for vacant land—the charitable institution intends to use it predominantly for 1 or more exempt purposes within the following period (the use requirement period )— 3 years after the acquisition of the land, or a longer period ending on a date fixed by the commissioner by notice given to the charitable institution; if the commissioner extends the period under section 49 —the period ending on the date fixed by the commissioner. s 47 amd 2011 No. 8 s 53 (sec.47-ssec.1) This section applies to all land owned by, or held in trust for, a charitable institution, other than land to which section 48 applies. (sec.47-ssec.2) The land is exempt land if— it is used predominantly by the charitable institution for 1 or more exempt purposes; or for vacant land—the charitable institution intends to use it predominantly for 1 or more exempt purposes within the following period (the use requirement period )— 3 years after the acquisition of the land, or a longer period ending on a date fixed by the commissioner by notice given to the charitable institution; if the commissioner extends the period under section 49 —the period ending on the date fixed by the commissioner.

• (a) it is used predominantly by the charitable institution for 1 or more exempt purposes; or
• (b) for vacant land—the charitable institution intends to use it predominantly for 1 or more exempt purposes within the following period (the use requirement period )— (i) 3 years after the acquisition of the land, or a longer period ending on a date fixed by the commissioner by notice given to the charitable institution; (ii) if the commissioner extends the period under section 49 —the period ending on the date fixed by the commissioner.
• (i) 3 years after the acquisition of the land, or a longer period ending on a date fixed by the commissioner by notice given to the charitable institution;
• (ii) if the commissioner extends the period under section 49 —the period ending on the date fixed by the commissioner.
• (i) 3 years after the acquisition of the land, or a longer period ending on a date fixed by the commissioner by notice given to the charitable institution;
• (ii) if the commissioner extends the period under section 49 —the period ending on the date fixed by the commissioner.