2021 Special Session I

Budget Amendments - SB1100 (Floor Approved)

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Study of Local Fiscal Impacts of Mandatory Property Tax Exemptions (language only)

Item 114 #4s

Item 114 #4s

Commerce and Trade
Department of Housing and Community Development


Page 114, line 46, after “basis.", insert:

"O.  The Commission on Local Government shall review the fiscal effects of mandatory property tax exemptions on the capacity of local governments to deliver essential services to the public.  As part of the review, the Commission shall ascertain the impact of the exemptions on property tax collections, the shift to and reliance on other local revenues to compensate for exempted properties, the additional fiscal stress placed on non-exempted properties and non-exempted local taxpayers, and the ability of local governments to meet spending needs. In addition, the Commission shall develop and include in its review potential recommendations to mitigate the fiscal impacts on local governments tied to these state tax exemption initiatives.  The Commission shall report its findings to the Governor, the Joint Subcommittee on Local Government Fiscal Stress, and the Chairs of the Senate Committee on Finance and Appropriations, the House Committee on Finance, and the House Committee on Appropriations by November 1, 2021."


(This amendment directs the Commission on Local Government to undertake a review of the effects of mandatory property tax exemptions on local governments and recommend potential options for mitigating their fiscal impacts.)