Bill Title: Amends the Property Tax Code. In provisions concerning the Historic Residence Assessment Freeze Law, provides that the fair cash value of the property shall be based on the final determination by the assessment officer, board of review, Property Tax Appeal Board, or court. Provides that, after the expiration of the 8-year valuation period, if the current fair cash value is less than the adjusted base year valuation, then the assessment shall be based on the current fair cash value. Provides that these changes are declarative of existing law.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Engrossed) 2024-05-31 - House Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee [SB2703 Detail]

Text: Latest bill text (Engrossed) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Cristina Castro [D]	Primary	Sponsored Bills	SD-022	FollowTheMoney	Ballotpedia	VoteSmart
Senator Laura Murphy [D]	Cosponsor	Sponsored Bills	SD-028	FollowTheMoney	Ballotpedia	VoteSmart
Representative Emanuel Welch [D]	Primary	Sponsored Bills	HD-007	FollowTheMoney	Ballotpedia	VoteSmart

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