1. (1) is owned by a nonprofit organization that:

   1. (i) is qualified as tax exempt under § 501(c)(4) of the Internal Revenue Code; and
   2. (ii) is engaged primarily in providing a program to render its best efforts to contain, clean up, and otherwise mitigate spills of oil or other substances occurring in United States coastal and tidal waters; and
2. (2) is used for the purposes of the organization.

Personal property is not subject to property tax if the property:

Added by Acts 1997, c. 382, § 1, eff. July 1, 1997.