‘An Act To Expand State Reimbursement to 100 Percent of Lost Property Tax Revenue Due to the Homestead Exemption’
Amend the bill by striking out the title and substituting the following:
Amend the bill by striking out all of section 1.
Amend the bill by striking out all of section 3.
Amend the bill by inserting after section 4 the following:
‘Sec. 5. Appropriations and allocations. The following appropriations and allocations are made.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Homestead Property Tax Exemption Reimbursement 0886
Initiative: Provides funding to increase the homestead property tax exemption reimbursement to municipalities from 62.5% to 100%.
| GENERAL FUND | 2019-20 | 2020-21 |
|
All Other
|
$0 | $31,110,000 |
 |
|
|
| GENERAL FUND TOTAL | $0 | $31,110,000 |
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.
summary
This amendment, which is the minority report of the committee, removes from the bill the increase in the value of the homestead exemption and the provision that the tax assessed on a homestead eligible for the homestead exemption may not be less than $100.
The amendment also adds an appropriations and allocations section.
FISCAL NOTE REQUIRED
(See attached)