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House Bill 1348


House Bill 1348

ARCHIVE (2008)

Latest Information

 

DIGEST OF INTRODUCED BILL


Review of total debt and lease burden on taxpayer. Eliminates department of local government finance review of capital projects that will cost a political subdivision $7,000,000 or less. Requires a county board of tax and capital projects review (county board) to review all capital projects, including capital projects that will be paid from revenues other than property taxes. Requires a political subdivision to: (1) include an estimate of the tax impact of proposed capital projects in a capital project plan; and (2) provide tax impact information in notices related to a proposed capital project. Requires a county board to consider the impact of a proposed capital project on tax rates. Prohibits a county board from approving a capital project that, when added to all other debt obligations issued by all political subdivisions, could result in a combined property tax and special benefits tax rate of $0.70 or more per $100 of assessed valuation in any taxing district.
Current Status:
 In Committee - first House
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