This bill mandates that, starting January 1, 2026, any taxing entity must obtain approval from a majority of its qualified electors before increasing its total property tax levy by more than the annual rate of inflation, as determined by the consumer price index. The election process for this approval must follow the procedures outlined in K.S.A. 10-120. Additionally, any increased property tax revenues resulting from the construction of new structures or improvements will not count towards the total property tax levy for the purpose of this approval requirement.

The bill also specifies that certain statutory mill rate levies, as defined in K.S.A. 72-5142, 76-6b01, and 76-6b04, are exempt from these provisions. This legislation aims to provide taxpayers with more control over property tax increases while allowing for exceptions related to new construction. The act will take effect upon its publication in the statute book.