Section 39-3-123 - Works of art, literary materials, and artifacts - on loan - exemption - limitations - definitions(1) Works of art, literary materials, and artifacts shall be exempt from the levy and collection of property tax if such works of art, literary materials, and artifacts are loaned to and are in the custody and control of: (a) The state or a political subdivision thereof; or(b) A library or any art gallery or museum which is owned or operated by a charitable organization whose property is irrevocably dedicated to charitable purposes and whose assets shall not inure to the benefit of any private person upon the liquidation, dissolution, or abandonment by the owner, and which uses such works of art, literary materials, and artifacts for charitable purposes. This exemption shall apply only for the period of time during which such works of art, literary materials, and artifacts are actually on loan and shall be in addition to such exemptions provided for in sections 39-3-108 to 39-3-113.5.(2) Any exemption claimed pursuant to the provisions of subsection (1) of this section shall comply with the provisions of section 39-5-113.5.(3) For purposes of subsection (1) of this section:(a) "Artifacts" means items of personal property which are objects of human workmanship and which have archaeological or historical significance.(b) "Charitable organization" means a charitable organization as defined in section 39-26-102 (2.5).(c) "Charitable purposes" means public display, research, educational study, maintenance of property, and preparation for display.(d) "Literary materials" means items of personal property including, but not limited to, books, letters, diaries, records, documents, memoranda, journals, magazines, and notes.(e) "Works of art" means works of art as defined in section 39-1-102 (18).Amended by 2013 Ch. 316, § 121, eff. 8/7/2013.L. 89: Entire article R&RE, p. 1477, § 1, effective April 23. L. 2013: (1)(b) amended, (HB 13-1300), ch. 316, p. 1704, § 121, effective August 7.This section is similar to former § 39-3-101 (1)(o) as it existed prior to 1989.