Property tax exemption for nonprofit thrift shops

(a) Notwithstanding § 8-10.9 (d), real property used for a thrift shop shall be exempt from property taxes; provided that: (1) The thrift shop is operated by a nonprofit organization that sells goods; (2) Ninety percent or more of the goods sold in the thrift shop have been donated; and (3) All of the net revenues from the thrift shop are used to provide job training and employment services or drug rehabilitation services at no cost to the person being trained or rehabilitated. (b) For the purposes of this section, the following definitions apply unless the context clearly indicates or requires a different meaning. Nonprofit Organization. An association, corporation, or other entity, organized and operated exclusively for religious, charitable, scientific, literary, cultural, educational, recreational, or other nonprofit purposes, no part of the assets, income, or earnings of which inures to the benefit of any individual or member thereof, and whose charter or other enabling act contains a provision that, in the event of dissolution, the assets owned by such association, corporation, or other entity shall be distributed to another association, corporation, or other entity organized and operated exclusively for nonprofit purposes, and which further qualifies for exemption under § 501 of the Internal Revenue Code of 1954, as amended. Thrift Shop. A retail outlet.