SB 911 - For the 2022 and 2023 calendar years, this act requires each political subdivision to reduce its property tax levy such that the amount of tax revenue generated by such tax levy shall be reduced by an amount that is substantially equal to the total amount of funds received by such political subdivision pursuant to the American Rescue Plan Act of 2021 during such calendar years. Reductions in the property tax levy made pursuant to this act shall only apply to the 2022 and 2023 calendar years. This act is substantially similar to HB 2729 (2022).
JOSH NORBERG