This bill amends section 13-3403 of the Revised Statutes Supplement, 2025, concerning the Property Tax Growth Limitation Act. It establishes that, starting from fiscal years beginning on or after July 1, 2025, a political subdivision's property tax request cannot exceed its property tax request authority as defined in the amended section. The preliminary property tax request authority will be based on the amount of property taxes requested and approved in the previous fiscal year, adjusted by subtracting certain exceptions. Notably, the bill adds new exceptions to the calculation by including subdivisions (2), (4), (5), (6), and (7) of section 13-3404, while deleting the reference to subdivision (7).

Additionally, the bill allows for an increase in a political subdivision's property tax request authority beyond the preliminary amount. This increase can be calculated based on the prior year's levied property taxes, adjusted for exceptions, and multiplied by the political subdivision's growth percentage and inflation percentage. The original section 13-3403 is repealed, indicating a complete overhaul of the existing provisions related to property tax request authority.

Statutes affected:
Introduced: 13-3403