Relating to consolidated billing tax rate for purposes of urban renewal; and prescribing an effective date.
Catchline/Summary:
Excludes local option taxes approved after January 1, 2013, from consolidated billing tax rate for purposes of computing urban renewal division of taxes for certain urban renewal plans. Excludes local option taxes approved after January 1, 2013, from consolidated billing tax rate for purposes of computing urban renewal division of taxes for certain urban renewal plans. Authorizes inclusion of local option taxes if urban renewal agency files certificate with county assessor stating that exclusion of local option taxes would impair contracts between agency and bondholders. Applies to division of ad valorem property taxes for tax years beginning on or after July 1, 2014.
Takes effect on 91st day following adjournment sine die.
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HB 2632
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