Sec. 7w.
(1) Property owned exclusively by the state agricultural society or a county or district agricultural society, and used by the society primarily for fair purposes is exempt from taxation under this act.
(2) Property shall be considered used by a society primarily for fair purposes if the society leases the property to others for purposes which do not interfere with fair purposes and if the income received by the society under the lease is used entirely to defray the costs and expenses of conducting the fair and maintaining the buildings and grounds of the society.
History: Add. 1980, Act 142, Imd. Eff. June 2, 1980 ;-- Am. 1984, Act 158, Eff. Dec. 21, 1984 Popular Name: Act 206
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