This bill proposes to update current statutes regarding the Property Tax Oversight Commission (PTOC) by continuing its existence for an additional eight years, until July 1, 2033. The current law, as stated in section 41-3025.08, will be repealed, and new provisions will be added under section 41-3033.08. The bill also specifies that the PTOC will terminate on July 1, 2033, and that related sections will be repealed on January 1, 2034. Additionally, the bill includes a purpose statement emphasizing the legislature's intent to maintain the PTOC to oversee the budgeting and taxation processes of various governmental entities, including counties and school districts. The effective date for these changes is retroactively set to July 1, 2025, ensuring continuity in the commission's oversight responsibilities.

Statutes affected:
Introduced Version: 41-3025.08, 41-3033.08
Senate Engrossed Version: 41-3025.08, 41-3033.08