Counties can now choose to impose a new tax on gross receipts (money businesses take in) to help reduce property taxes on homes that owners live in. The bill requires property tax bills to separately show homeowners how much of their property tax reduction comes from this new county gross receipts tax, starting in 2028. This gives counties a new tool to shift some tax burden from homeowners to businesses.
The amendment adds a requirement that property tax bills for taxes payable in 2028 and beyond must disclose the property tax credit attributable to any county gross receipts tax imposed under the bill, thereby STRENGTHENING transparency regarding how the new tax mechanism reduces owner-occupied property taxes.
The amendment changed the bill from its "Senate Engrossed" status to "Enrolled" status and corrected a technical typographical error in section 4 (changing "10-14 45D," to "10-45D,"). This is a housekeeping correction with no substantive change to the bill's purpose of authorizing county gross receipts taxes to reduce owner-occupied property taxes.
Other amendments
Signed by the Governor S.J. 548
Delivered to the Governor S.J. 520
Signed by the Speaker H.J. 553
Signed by the President S.J. 505
House of Representatives Do Pass Amended Passed, YEAS 48, NAYS 19. H.J. 528
State Affairs Do Pass Passed, YEAS 12, NAYS 1.
State Affairs Scheduled for hearing H.J. 1
House of Representatives Referred to House State Affairs H.J. 446
First Reading House H.J. 423
Senate Do Pass Amended Passed, YEAS 20, NAYS 14. S.J. 359
Senate Motion to amend S.J. 358
Senate Deferred to another day S.J. 338
Taxation Do Pass Passed, YEAS 7, NAYS 0. S.J. 15
Taxation Scheduled for hearing S.J. 1
First read in Senate and referred to Senate Taxation S.J. 67
Do Pass Amended
State Affairs — Do Pass
Do Pass Amended
Taxation — Do Pass