If enacted, this bill would update current statutes by modifying the information required in informational pamphlets and notices related to budget overrides and bond elections for school districts and other political subdivisions. Specifically, it would replace the current requirement of including tax rate and estimated costs for capital improvements associated with single-family homes valued at $80,000 with new requirements for homes valued at $100,000 and $400,000. Additionally, the bill would mandate the inclusion of estimated tax impacts of property tax increases on homes valued at $400,000 in Truth in Taxation (TNT) notices and informational pamphlets for bond elections.

The bill also introduces several new provisions, such as requiring the estimated tax impact of bond debt service for owner-occupied residences valued at $400,000 and commercial properties valued at $2,000,000 to be included in bond election pamphlets. Furthermore, it specifies that ballots for proposed general obligation bond authorizations must clearly state that the principal and interest will be paid through property taxes without limit as to rate or amount. Overall, these changes aim to enhance transparency regarding the financial implications of tax increases and bond measures for homeowners.

Statutes affected:
Introduced Version: 15-481, 15-491, 15-905.01, 15-1461.01, 35-454, 41-1276, 42-17107, 48-254, 16-204, 15-905, 42-12003, 42-12001, 15-422, 15-423, 15-424, 15-426, 15-403, 15-947, 15-482, 15-949, 15-971, 15-447, 15-342, 15-493, 15-401, 15-402, 15-910, 15-910.01, 1999-2000, 15-995, 15-907, 42-17052, 42-17002, 42-17051, 15-1461, 42-17105, 42-12002, 42-17151, 42-17103, 42-17104
House Engrossed Version: 15-481, 15-491, 15-905.01, 15-1461.01, 35-454, 41-1276, 42-17107, 48-254, 16-204, 15-905, 42-12003, 42-12001, 15-422, 15-423, 15-424, 15-426, 15-403, 15-947, 15-482, 15-949, 15-971, 15-447, 15-342, 15-493, 15-401, 15-402, 15-910, 15-910.01, 1999-2000, 15-995, 15-907, 42-17052, 42-17002, 42-17051, 15-1461, 42-17105, 42-12002, 42-17151, 42-17103, 42-17104