SB 789: Taxation: information returns: vacant commercial real property.

This bill requires a person owning commercial property in the state to register with the department and file an information return each year, which must include information on vacant buildings. The return must be filed by a date determined by the department. A penalty of $100 per commercial property will be imposed on anyone who fails or refuses to timely furnish the return. The department will collect information from the returns and post data on its website, including the percentage of vacant commercial properties by zip code. The provisions will be repealed as of January 1, 2031.