FINAL BILL REPORT

HB 2053

                                  C 287 L 89

BYRepresentatives Silver, Locke, May, H. Sommers, Ferguson, Horn and Wood

Providing a nine-year limitation for regular property tax levies involving redemption payments on bonds.

House Committe on Revenue

Senate Committee on Ways & Means

SYNOPSIS AS ENACTED

BACKGROUND:

Property taxing districts may ask voters to lift the 106 percent property tax limit.  The request to the voters may include any of the following options: (1) a limit on the period for which the increased levy is to be made; (2) a limit on the purpose for which the increased levy is to be made; (3) a levy at a rate less than the maximum rate allowed for the district; or (4) any combination of the conditions listed above.

Increases in the 106 percent limit must be approved by a majority of the voters of the district at a general election or special election held for that purpose.

SUMMARY:

Ballot propositions are to state clearly any conditions that are applicable when voters are asked to increase the 106 percent property tax limit.

If a taxing district asks its voters to raise the 106 percent property tax limit for the purpose of redemption payments on bonds, the increased levy may not exceed nine years in duration.

VOTES ON FINAL PASSAGE:

      House 98   0

      Senate    46     0 (Senate amended)

      House 93   0 (House concurred)

EFFECTIVE:July 23, 1989