SF0069H3012

This amendment deletes multiple prior amendments, modifies the homeowner property tax exemption to apply only to 2025-2026 with a reduced cap of $1,000,000 starting in 2027, removes a sunset provision, and adds a contingency clause tying the exemption to a competing voter initiative.

• Deletes twelve prior amendments to SF0069, clearing the legislative record for this substitute approach. (Lines 1-12)
• Changes the sunset date language to state it is 'contingent' on other circumstances. (Page 1, line 3)
• Limits the 25% homeowner tax exemption to apply only to tax years 2025 and 2026, narrowing the exemption's temporal scope. (Page 2, line 4)
• Starting in tax year 2027, reduces the exemption cap from $2,000,000 to $1,000,000 of fair market value while maintaining the 25% exemption rate on that reduced cap. (Page 2, lines 10-27)
• Deletes language that prohibited the exemption from applying to tax year 2027 and thereafter. (Page 2, lines 22-23)
• Adds a new section clarifying that this act is not intended to be substantially similar to a competing voter initiative on homeowner property tax exemption, and provides that the act repeals effective January 1, 2027 if the competing initiative passes during the 2026 general election. (Page 3, after line 8)

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