HB 1493 - DIGEST

     Eliminates the small district exemption from the property tax revenue inflationary limit.

     Takes effect on the day a decision of a court in this state becomes final and invalidates, in whole or in part, the application of section 5, chapter 2, Laws of 2001 (Initiative Measure No. 722) to property tax levies.

     Applies to taxes levied for collection in 2002 and thereafter.