This bill amends the processes by which a taxing entity may increase the taxing entity's property tax revenue.
This bill:
- limits the total amount of additional property tax revenue a taxing entity may obtain through the truth-in-taxation process;
- requires a taxing entity to obtain voter approval to exceed the limit on total additional property tax revenue;
- provides the requirements for submitting a question to voters for approval and the effect of receiving voter approval;
- eliminates the hold harmless period for state guaranteed funding related to a reduction in a school district's certified tax rate; and
- makes technical and conforming changes.

Statutes affected:
Introduced: 53F-2-601, 59-2-919