The legislative session kicked off with a bang! Legislators wasted no time getting bills introduced.  The first bill introduced was Senator Dawson’s tax bill. It is nearly double the size of the bill under consideration last year. We are still in the process of analyzing as there are significant new factors that will make it difficult to determine the actual impact on local taxing authorities. One thing, however, didn’t change. The bill would restrict levies for the management fund until balances are spent down. As we communicated last year, this leaves districts at risk of being able to meet their obligations for premiums, deductibles, and the other eligible expenditures out of the fund. 

The governor released her version of the property tax bill. A key component is increasing the amount of SAVE money going to property tax relief from 7% to 30% by 2030.  See the advocacy action of the week for our unique tool to estimate how it may impact your district. 

We anticipate seeing the House version of a tax bill next week. It’s widely assumed that the House and the governor will be a lot closer in their proposals. Both have indicated little desire to phase out the residential rollback.