This bill creates a new state fund dedicated to reducing property taxes on owner-occupied homes by lowering the education levy portion of property tax bills. Starting August 1, 2027, a small percentage of revenue from several state taxes will be deposited into this fund instead of going to the general fund, and the money will be used specifically for homeowner property tax relief. The Department of Revenue will manage the fund, which cannot be transferred to the general fund and must be appropriated through the state budget.
This bill does not directly amend codified state law.
The bill was extensively rewritten to create a homeowner property tax reduction fund administered by the Department of Revenue, funded by a $55,896,576 transfer and future tax revenue allocations beginning 2027.
The amendment corrected a line-break error where "owner-" and "occupied" were split across lines to properly read "owner-occupied" as a single hyphenated term.
Other amendments
Signed by the Governor S.J. 548
Delivered to the Governor S.J. 541
Signed by the Speaker H.J. 570
Signed by the President S.J. 528
Senate Concurred in amendments Passed, YEAS 20, NAYS 13. S.J. 521
House of Representatives Do Pass Amended Passed, YEAS 42, NAYS 27. H.J. 539
State Affairs Do Pass Amended Passed, YEAS 11, NAYS 2.
State Affairs Motion to amend
State Affairs Scheduled for hearing H.J. 1
State Affairs Motion to amend
State Affairs Scheduled for hearing
First read in House and referred to House State Affairs H.J. 445
Senate Do Pass Passed, YEAS 32, NAYS 1. S.J. 387
State Affairs Certified uncontested, placed on consent S.J. 31
State Affairs Do Pass Passed, YEAS 9, NAYS 0. S.J. 31
State Affairs Scheduled for hearing S.J. 1
State Affairs Scheduled for hearing S.J. 1
First read in Senate and referred to Senate State Affairs S.J. 198
Concurred in amendments
Do Pass Amended
State Affairs — Do Pass Amended
Do Pass
State Affairs — Do Pass