Introduced
by
To authorize a distribution formula for the revenue collected under the alternative “specific tax” on tax reverted property proposed by House Bill 4471, to which the bill is tie barred. Half the revenue would be distributed to schools and other units of government under the existing formula, and half would go directly to the local government to be used to clear title on eligible tax reverted property, or to repay certain loans. The bill would require the state pay to schools the remainder of the portion of the regular property tax that would have gone to them. See also House Bill 4483.
Referred to the Committee on Land Use and Environment
