Introduced
by
To authorize an alternative “specific tax” for five years on tax-reverted property sold by a local government, which would replace regular property taxes, but be levied at the same rate. The bill establishes an alternative distribution formula for the revenue. Half the revenue would be distributed to schools and other units of government under the existing formula, and half would go directly to the local government to be used to clear titles and to repay loans from the state for the same purpose (see House Bill 4488).
Referred to the Committee on Land Use and Environment
Reported without amendment
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one which would give half the proposed tax to the land bank authority proposed by House Bill 4483. See House passed bill for details.
The substitute passed by voice vote
Passed in the House 107 to 0 (details)
To authorize an alternative “specific tax” for five years on tax-reverted property sold by a "land bank authority" proposed by House Bill 4483. This tax would replace regular property taxes, but be levied at the same rate. The bill establishes an alternative distribution formula for the revenue. Half the revenue would be distributed to schools and other units of government under the existing formula, and half would go directly to the land bank authority to be used to clear titles and to repay loans received from the state for the same purpose (see House Bill 4488).
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 36 to 0 (details)
To authorize an alternative “specific tax” for five years on tax-reverted property sold by a "land bank authority" proposed by House Bill 4483. This tax would replace regular property taxes, but be levied at the same rate. The bill establishes an alternative distribution formula for the revenue. Half the revenue would be distributed to schools and other units of government under the existing formula, and half would go directly to the land bank authority to be used to clear titles and to repay loans received from the state for the same purpose (see House Bill 4488).
