SB 38 - This act allows a county, after meeting the required assessed valuation, to become a second class county upon a vote of the governing body to change classifications. Currently, a county can only change classifications by a vote of the governing body if it is becoming a first class county; otherwise, the county must be at the required assessed valuation for five years before changing classifications. The effective date of the change in classification shall be at the beginning of the county fiscal year following the election by the governing body. This act increases the assessed valuation a county must maintain in order to move into a higher classification. The assessed valuation for counties of the first classification is increased from $600 million to $750 million. The assessed valuation for counties of the second classification is increased from $450 million to $600 million. All counties with an assessed valuation of less than $600 million will be counties of the third classification.
The required assessed valuation for each classification shall be increased by an amount equal to any percentage increase in the consumer price index.
This act is identical to HCS/SB 820 (2008) and similar to SCS/HB 257 (2009), a provision of SS/SCS/HB 376 (2009), HCS/SB 386 (2009), and SB 574 (2009).
SUSAN HENDERSON MOORE