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Committee approves House Bill 2745 with protest-petition and distribution amendments
Summary
The Committee on Taxation advanced House Bill 2745, a property-tax relief package that sets a 3% growth cap with specified exclusions, creates a $60 million relief fund distributed proportionally to eligible taxing jurisdictions, and replaces a straight election trigger with a protest-petition process (10% threshold of votes in the last presidential election).
The Committee on Taxation voted to report House Bill 2745 favorably after adopting several amendments that reshape how local property-tax increases are constrained and how a $60,000,000 relief appropriation would be distributed. The bill would require elector approval for year-to-year increases in property-tax revenue above a 3% baseline while creating a property-tax relief fund to transfer money to counties and eligible taxing jurisdictions.
Adam, the committee reviser, summarized the measure as one that "would require a vote of the electors to approve increases in property tax revenues for the next year for a taxing jurisdiction," and said the bill establishes a property-tax relief fund and replaces prior revenue-neutral provisions with new budget rules. Committee members debated how to operationalize those limits and which revenue changes should be excluded from the 3% cap.
Representative Wolff offered a…
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