This bill modifies provisions related to tax revenue.
This bill:
- defines terms;
- limits the amount of reserve funds maintained by cities and counties;
- reduces the amount of the residential property tax exemption for rental properties, with certain exceptions;
- clarifies the applicability of the residential exemption for owners of multiple primary residences in the state;
- requires counties to provide information to the Multicounty Appraisal Trust regarding business entities that receive the residential exemption;
- excludes certain property valuation increases from the calculation of locally assessed new growth;
- excludes increases to the value of tangible personal property from the calculation of project area new growth;
- subtracts from a city's certified tax rate calculation any amount of reserve funds maintained by the city in excess of the maximum amount authorized, beginning in fiscal year 2032;
- includes a coordination clause to incorporate changes to the Multicounty Appraisal Trust in S.B. 206, Tax Amendments; and
- makes technical and conforming changes.
Recommended by: Revenue and Taxation Interim Committee

Statutes affected:
Introduced: 59-2-919, 59-2-924
Substitute #1: 10-6-116, 17-63-204, 59-2-103, 59-2-103.5, 59-2-917, 59-2-919, 59-2-924
Substitute #2: 10-5-113, 10-6-116, 17-63-204, 59-2-103, 59-2-103.5, 59-2-924
Substitute #3: 10-6-116, 17-63-204, 59-2-103, 59-2-103.5, 59-2-924
Amended 3/3/2026 20:03:321: 10-6-116, 17-63-204, 59-2-103, 59-2-924
Substitute #4: 10-6-116, 17-63-204, 59-2-103, 59-2-924