IN SB0290 | 2025 | Regular Session
Status
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on January 13 2025 - 25% progression
Action: 2025-02-13 - Second reading: ordered engrossed
Text: Latest bill text (Comm Sub) [PDF]
Status: Introduced on January 13 2025 - 25% progression
Action: 2025-02-13 - Second reading: ordered engrossed
Text: Latest bill text (Comm Sub) [PDF]
Summary
Local taxes in certain municipalities. Requires the department of local government finance to increase the maximum permissible property tax levy for certain qualifying municipalities for property taxes first due and payable in 2025 to include all debt service levies of the qualifying municipality for property taxes first due and payable in 2025. Specifies that the adjustment is a one time and permanent increase. Changes the local income tax trust account threshold percentage of a county that contains a qualifying municipality, which is used for purposes of determining whether the county shall receive a supplemental distribution. Modifies the certified share allocation determination for a qualifying municipality. Prohibits the use of funds from the state general fund to make up certain local income tax related shortfalls.
Title
Local taxes in certain municipalities.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2025-02-13 | Senate | Second reading: ordered engrossed |
2025-02-11 | Senate | Senator Randolph added as coauthor |
2025-02-11 | Senate | Committee report: amend do pass, adopted |
2025-01-13 | Senate | First reading: referred to Committee on Tax and Fiscal Policy |
2025-01-13 | Senate | Authored by Senators Walker K and Holdman |