SB24-233, Property Tax Update
Good Morning,
SB24-233, Property Tax passed out of the Senate this morning on a 33-2 vote. This bill will now head to the House where it will go through committee today as well as second reading. There were several amendments that were added on the Senate floor late last night, we have summarized these below. Finally, we have attached the most recent version of the bill and the fiscal note as well.
Recent Version of the Bill
Revised Fiscal Note
Amendments:
L.007 - Address TIF districts that are expiring and how they interact with the cap under SB24233
L.006 - Addresses forward looking bond and indebtedness
L.002 - technical amendment to the local share for public education
L.004 - technical amendment to the local share for public education related to the 60/40 split for local and state share
L.005 - gives the state treasurer authority to distribute the backfill funds
Thank you
