The proposed bill would update current statutes by continuing the Property Tax Oversight Commission (PTOC) for an additional eight years, extending its termination date from July 1, 2025, to July 1, 2033. This change is marked by the statement that the PTOC terminates on July 1, 2033 and the repeal of section 41-3025.08, which currently governs the commission's operations. Additionally, the bill includes provisions for the commission's oversight responsibilities regarding budgeting and taxation processes for various governmental entities. Furthermore, the bill introduces a retroactive effective date of July 1, 2025, ensuring that the continuation of the PTOC is recognized from that date. It also specifies that Title 42, chapter 17, article 1 and this section are repealed on January 1, 2034, indicating a clear timeline for the commission's operations and eventual dissolution. Overall, these updates aim to enhance the oversight of property tax practices in Arizona while providing a structured timeline for the commission's existence.

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