Public finance; Ad Valorem Reimbursement Fund; school district revenue loss; state purchases; emergency.

Summary

The bill amends the Ad Valorem Reimbursement Fund to pay back counties and school districts when they lose tax revenue from certain exemptions or when the state buys property worth more than $300 million. Claims must be filed by April 30 each year and are paid in a set order, with reimbursement for state purchases limited to the first two tax years after the purchase. The measure also declares an emergency so it would take effect immediately, but it was vetoed on May 12, 2026.

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