This bill proposes to update current statutes regarding the Property Tax Oversight Commission (PTOC) by continuing its existence for an additional eight years, until July 1, 2033. The current law, as stated in section 41-3025.08, will be repealed, and new provisions will be added to establish the termination date of the PTOC. Specifically, A. The property tax oversight commission terminates on July 1, 2033. Additionally, the bill includes a provision that B. Title 42, chapter 17, article 1 and this section are repealed on January 1, 2034. Furthermore, the bill emphasizes the importance of the PTOC in overseeing the budgeting and taxation processes of various governmental entities, as indicated by the insertion Pursuant to section 41-2955, subsection B, Arizona Revised Statutes, the legislature continues the property tax oversight commission to provide oversight of the budgeting and taxation process of counties, municipalities, school districts and community college districts. The effective date for these changes is retroactively set to July 1, 2025, as noted in Sections 1 and 2 of this act are effective retroactively to from and after July 1, 2025.

Statutes affected:
Introduced Version: 41-3025.08, 41-3033.08
Senate Engrossed Version: 41-3025.08, 41-3033.08