This amendment deletes a previous amendment and adds a new Section 351 establishing a $12 million local government property tax grant program funded from the general fund, while also making technical updates to the bill's purpose statement.
- Deletes the fourth Steinmetz third reading amendment (SF0001S3017/A) in its entirety. (Page 1, lines 1-3)
- Updates the bill's purpose statement to include provision for supplemental payments to local governments and political subdivisions. (Page 1, lines 5-7)
- Creates new Section 351 establishing a local government property tax grants program with $12,000,000 appropriated from the general fund to the department of revenue for payments to qualifying counties. The program distributes funds to counties, cities, towns, and special districts in the eight counties with the lowest assessed valuations that impose maximum statutory mill levies, to offset residential property tax assessment reductions from tax years 2025 and 2026. Grants are capped at 75% of demonstrated assessment reductions and are distributed proportionally. The appropriation does not revert until June 30, 2027 and is not intended to be included in the department's standard budget for the succeeding fiscal biennium. The section is only effective if certain enumerated 2025 bills are enacted and those bills contain no other provisions providing compensation to local governments for residential property tax reductions. (Page 84, after line 15; inserted lines 11-44 on subsequent pages)Agency: Department of Revenue · $12,000,000 General Fund
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