The bill introduces significant changes to property taxation processes, particularly concerning the contestation of property tax revenue increases by taxing subdivisions. It requires governing bodies proposing budgets that exceed a specified property tax revenue limit to notify the county clerk by July 20 and allows taxpayers to file protest petitions if at least 10% of qualified electors sign them. If such a petition is submitted, the proposed budget cannot be adopted. The bill also details the necessary information for protest petition forms and establishes a submission deadline of September 15. Additionally, it amends existing laws regarding the revenue neutral rate, stipulating that no tax rate above this threshold can be levied without a public hearing and majority approval from the governing body.

Furthermore, the legislation creates a taxpayer notification costs fund to reimburse county clerks for printing and postage expenses, with funding sourced from the state general fund. It repeals previous statutes related to taxpayer notification costs and mandates that the Department of Administration make budget and revenue neutral rate documents publicly accessible online. The bill aims to improve transparency and accountability in property tax revenue increases while providing taxpayers with a structured mechanism to express their concerns and ensuring compliance with revenue neutral rate regulations.

Statutes affected:
As Introduced: 40-2404, 40-4909
As Amended by House Committee: 40-2404, 40-4909
As Amended by Senate Committee: 40-2404, 40-4909
Conference Committee Report - Fri, Apr 10, 2026: 79-2988, 79-2989
Enrolled: 79-2988, 79-2989
As introduced: 40-2404, 40-4909
Conference Committee Report - Fri, Apr 10, 2026 - Amd to HB2043: 79-2988, 79-2989