SB 6002 - DIGEST

     Provides property tax relief by spreading valuation increases over four years.

     Takes effect for taxes levied in 2001 for collection in 2002 and thereafter if the proposed amendment to Article VII, section 1 of the state Constitution providing for valuation increases to be phased-in over a period of four years is validly submitted to and is approved and ratified by the voters at the next general election.  If the proposed amendment is not approved and ratified, this act is void in its entirety.