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Rules Committee advances companion bill detailing sales‑tax pennies, school reserve changes and data‑center excise
Summary
The House Rules Committee approved a rule substitute for House Bill 1116 to phase down home taxable value from 40% to 10% over 10 years, repurpose local sales‑tax pennies, increase the school reserve from 15% to 25%, authorize a two‑year study of the school funding formula and create an excise on data‑center proceeds; members sought clarity on tax caps and independent fiscal analysis.
The House Rules Committee on March 3 advanced a rule substitute to House Bill 1116 that lays out how property‑tax relief would operate in practice, Chairman Blackman said.
Chairman Blackman described the measure as a companion to the resolution, again taking the taxable value for homesteads from 40% to 10% over a 10‑year period and detailing mechanics for up to three local sales‑tax pennies (lhost,…
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