DIGEST OF INTRODUCED BILL
Property tax circuit breaker. Eliminates the 2% assessed value property tax circuit breaker credit after 2008. Provides a property tax credit equal to the amount by which a property taxpayer's property tax liability exceeds 102% of the property tax liability imposed in the preceding year. Indicates that any reduction in collections due to the property tax credit does not relieve a political subdivision from the requirement of fully funding the payment of debt service or lease rentals.