The bill, H.B. No. 281, proposes to amend the effective date of certain changes in law concerning the impact of disasters and related costs on the calculation of specific tax rates and the procedures for adopting these rates by taxing units. Specifically, it changes the effective date from January 1, 2026, to January 1, 2028. This adjustment allows for a longer period before the new regulations take effect, potentially providing more time for taxing units to prepare for the changes.

Additionally, the bill stipulates that it will take effect immediately if it receives a two-thirds majority vote from all elected members in both houses of the legislature. If the bill does not achieve this immediate effect, it will become effective 91 days after the conclusion of the legislative session.