This amendment modifies the homeowner tax exemption distribution mechanism, splits funding between two tax years, adds $100 million from the legislative stabilization reserve account, and updates related grammatical references.
- Removes the phrase 'in an amount' from the distribution language. (Page 3, line 10)
- Replaces the original distribution formula with a new approach that allocates one-half of available amounts for tax year 2025 and the remainder for tax year 2026, with priority reimbursement to counties with assessed values under $300,000 per mill, and remaining funds distributed proportionately based on reduction in tax revenues. (Page 3, lines 11-23 and Page 4, lines 1-11)
- Adds $100,000,000 from the legislative stabilization reserve account to the funding source, in addition to the general fund appropriation. (Page 6, line 3)
- Updates grammatical references from singular 'This appropriation' to plural 'These appropriations' throughout the appropriations section to reflect the dual funding sources. (Page 6, lines 6, 8, 9, 11, and 13)
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