Property tax: change in ownership: residential rental property.

Summary

The bill creates an exemption so that transfers of rental buildings to tenant‑owned nonprofit corporations, limited‑equity housing cooperatives, or community land trusts are not considered a change in ownership and therefore are not reassessed for property tax. Tenants must own at least 51 % of the voting shares and meet specified participation deadlines, and counties can levy penalties if the rules are not followed. It also bars the state from reimbursing local governments for any tax revenue lost because of the exemption.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Vote

From committee: Do pass and re-refer to Com. on JUD. (Ayes 4. Noes 0. Page 872.) (April 23). Re-referred to Com. on JUD. · Apr 23, 2025

Hearings

• Appropriations Committee Hearing
  Appropriations · May 23, 2025
• Appropriations Committee Hearing
  Appropriations · May 5, 2025
• Revenue and Taxation Committee Hearing
  Revenue and Taxation · Apr 23, 2025

History

1. Feb 2, 2026Returned to Secretary of Senate pursuant to Joint Rule 56.
2. May 23, 2025May 23 hearing: Held in committee and under submission.
3. May 16, 2025Set for hearing May 23.
4. May 5, 2025May 5 hearing: Placed on APPR. suspense file.
5. Apr 29, 2025Set for hearing May 5.
6. Apr 24, 2025Withdrawn from committee.
7. Apr 24, 2025Re-referred to Com. on APPR.
8. Apr 23, 2025From committee: Do pass and re-refer to Com. on JUD. (Ayes 4. Noes 0. Page 872.) (April 23). Re-referred to Com. on JUD.
9. Apr 21, 2025From committee with author's amendments. Read second time and amended. Re-referred to Com. on REV. & TAX.
10. Apr 4, 2025Set for hearing April 23.
11. Apr 3, 2025April 9 set for first hearing canceled at the request of author.
12. Mar 18, 2025Set for hearing April 9.

The 12 most recent of 15 recorded actions.

Sponsors

• Smallwood-Cuevas · sponsor
• Mark González

Bill text

Opens the legislature’s own copy.

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