The bill amends the General Property Tax Act of 1893, specifically sections 24f and 36, to enhance transparency and regulation regarding the authorization of millage rates and bond issuance by taxing units. Key changes include the requirement for ballots to fully disclose the local units of government receiving revenue from new or increased millages, as well as detailed information about the proposed millage rate, estimated revenue, duration, and purpose. Additionally, the bill mandates that ballots for bond proposals must include the principal amount, maximum duration, purpose of proceeds, and estimated millage for repayment. The language in the bill replaces "shall" with "must" to emphasize these requirements.

Furthermore, the bill introduces restrictions on the timing and frequency of millage elections. Taxing units are limited to holding no more than two elections per calendar year concerning millage rates greater than the previous year's reduced maximum authorized rate until January 1, 2026. After this date, proposals for new or increased millages can only be submitted during the November regular election. The bill also stipulates that if a taxing unit seeks to renew a voter-authorized millage while also requesting a new additional millage greater than 0.5 mill, these must be presented as separate questions to the electorate.

Statutes affected:
House Introduced Bill: 211.24, 211.36