Local government finance.

Summary

The bill would end the assessment of tangible property after Dec. 31, 2026 and stop all property tax levies after Dec. 31, 2027. It bars local governments from issuing new debt that depends on property‑tax revenue and lets school districts replace lost tax money with an annual fee. Revenue from a newly expanded sales tax on most services would be placed in a local revenue‑sharing fund for distribution to counties, townships and cities.

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

Topics

Share