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. Specifically, it will repeal section 41-3025.08 and add section 41-3033.08 to the Arizona Revised Statutes, which will outline the new termination date for the PTOC. The bill also includes a provision that the PTOC will terminate on July 1, 2033 and that Title 42, chapter 17, article 1 and this section are repealed on January 1, 2034. Additionally, the bill states that 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 provisions of the bill will take effect retroactively to July 1, 2025, ensuring that the PTOC's oversight responsibilities remain in place without interruption.

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