This amendment replaces a prior amendment (HB0001H3034) and adds a new section creating a $12 million local government property tax grant program funded from the general fund.
- Deletes the entire second Bear third reading amendment (HB0001H3034) and substitutes new language. (Amendment lines 1-2)
- Adds 'providing for supplemental payments to local governments and political subdivisions' to the bill's purpose statement. (Page 1, line 9)
- Creates new Section 351 establishing a $12,000,000 appropriation from the general fund to the Department of Revenue for property tax grants to qualifying counties. Funds may be used to restore revenue from residential property tax assessment reductions in tax years 2025 and 2026, with up to half allocated to 2025 reductions and remainder to 2026 reductions. Grant recipients are limited to counties, cities, towns, and special districts in the eight counties with the lowest total assessed valuations that also impose maximum statutory mill levies. Counties must apply on behalf of their jurisdictions and distribute funds proportionally based on demonstrated assessment reductions. Grant awards are capped at 75% of demonstrated reduction, and section only becomes effective if at least one of ten specified bills from the 2025 legislative session is enacted. Unexpended funds do not revert until June 30, 2027. (Page 84, after line 15)Agency: Department of Revenue · $12,000,000 General Fund
AI-generated summary · Verify against the amendment text (PDF) · Notice a problem? Let us know
