Summary
The bill caps future increases of property tax revenue to 5.5% per year. School districts and home-rule local governments are excluded from the cap. A local government may seek voter approval to waive the limit. The bill also reduces the valuation of commercial property from 29% to 25% (of the actual value of the property) over the next four years.
Legislative Update
- 2024-05-14 / Signed
Governor Signed - 2024-05-10
Sent to the Governor
Signed by the Speaker of the House
Signed by the President of the Senate - 2024-05-08
Senate Considered House Amendments – Result was to Concur – Repass
House Third Reading Passed with Amendments – Floor - 2024-05-07
House Second Reading Special Order – Passed with Amendments – Committee, Floor
House Committee on Appropriations Refer Amended to House Committee of the Whole
Introduced In House – Assigned to Appropriations
Senate Third Reading Passed – No Amendments - 2024-05-06
Senate Second Reading Special Order – Passed with Amendments – Committee, Floor
Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
Senate Committee on State, Veterans, & Military Affairs Refer Unamended to Appropriations
Introduced In Senate – Assigned to State, Veterans, & Military Affairs
This content is updated every Thursday, but is not a comprehensive list of updates. If you have questions regarding a specific piece of legislation, please contact Davis Graham partner, Sarah Kellner.