Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee discusses HB1176 funding structure; members approve amendment to dedicate legacy earnings to property-tax relief
Summary
Representatives outlined a plan in HB1176 to consolidate legacy earnings into a Property Tax Relief Fund and to appropriate several hundred million dollars to tax relief programs; the committee approved an amendment (03/0002) that set election and override language and other provisions.
Representative Craig Hedlund summarized House Bill 1176 and committee changes that create a Property Tax Relief Fund. Hedlund said the committee shifted revenue sources and transferred $225,000,000 from a legacy-stream account into the property tax relief fund and identified additional legacy earnings, producing roughly $398,000,000 from that fund. Hedlund said total appropriations tied to the PRC (property tax credit) reached approximately $473,000,000, with about $74,000,000 from the general fund to cover homestead-credit costs in the fiscal note.
Hedlund told members the committee revised revenue flows so legacy earnings…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
