1. (a) In this section, “national defense” includes homeland security.

2. (b) Personal property or real property is not subject to property tax if the federal government holds at least a 50% interest in the property, or the entity that owns the property, and the property:

   1. (1) is situated on land that is owned by the federal government and located within the defined boundaries of a military installation; and
   2. (2) is used for national defense purposes or for housing for military personnel and their families.

Added by Acts 2005, c. 40, § 1, eff. June 1, 2005.