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Ways & Means previews yield bill vote; committee split over full $77 million buy-down vs. two-year reserve
Summary
With a vote set for the next day, the Ways & Means Committee reviewed two language drafts for the FY2026 yield bill: a two-year split via an Education Fund reserve and a full buy-down using $77,000,000 in one year.
The Ways & Means Committee reviewed two legislative language drafts setting out alternative approaches to the fiscal year 2026 property tax yield ahead of a scheduled vote the following day.
Greg, from the Office of Legislative Council, said one draft would create an Education Fund reserve that uses half of the available one-time amount in FY2026 and the other half in the following fiscal year; the alternative would apply the full buy-down in FY2026. Greg summarized the fiscal effects the committee should expect and described a technical correction to include the statewide adjustment tied to the CLA (common level of appraisal) in one place where it had been missed previously.
Greg said the half-buy-down draft would produce a property dollar-equivalent yield of 8,408, an income yield of $11,869 and a…
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