UNOFFICIAL COPY 25 RS BR 1933
Page 1 of 2
XXXX 2/18/2025 5:34 PM Jacketed
AN ACT proposing to amend Section 172B of the Constitution of Kentucky 1
relating to property exempt from taxation. 2
Be it enacted by the General Assembly of the Commonwealth of Kentucky: 3
Section 1. Are you in favor of expanding a freeze on the assessment or 4
reassessment of real property for property tax purposes in order to encourage the 5
development, repair, rehabilitation, or restoration of the real property for a length of time 6
determined by the General Assembly by amending the Constitution of Kentucky to read 7
as stated below? 8
Section 2. It is proposed that Section 172B of the Constitution of Kentucky be 9
amended to read as follows: 10
Notwithstanding contrary provisions of Sections 170, 171, 172, or 174 of this 11
Constitution, the General Assembly may provide by general law that the governing 12
bodies of county, municipal, and urban-county governments may declare property 13
assessment or reassessment moratoriums for qualifying units of real property for the 14
purpose of encouraging the development, repair, rehabilitation, or restoration[ of existing 15
improvements] thereon. Prior to the enactment of any property assessment or 16
reassessment moratorium program, the General Assembly shall provide or direct the local 17
governing authority to provide property qualification standards for participation in the 18
program and a limitation on the duration of any assessment or reassessment moratorium. 19
[ In no instance shall any such moratorium extend beyond five years for any particular 20
unit of real property and improvements thereon.] 21
Section 3. This amendment shall be submitted to the voters of the 22
Commonwealth for their ratification or rejection at the time and in the manner provided 23
for under Sections 256 and 257 of the Constitution, KRS 118.415, and under Sections 4 24
and 5 of this Act. 25
Section 4. Notwithstanding any provision of KRS 118.415 to the contrary, the 26
Secretary of State shall cause the question in Section 1 of this Act and the entirety of the 27 UNOFFICIAL COPY 25 RS BR 1933
Page 2 of 2
XXXX 2/18/2025 5:34 PM Jacketed
proposed amendment to the Constitution of Kentucky contained in Section 2 of this Act 1
to be published at least one time in a newspaper of general circulation published in this 2
state, and shall also cause to be published at the same time and in the same manner the 3
fact that the amendment will be submitted to the voters for their acceptance or rejection at 4
the next regular election at which members of the General Assembly are to be voted for. 5
The publication required by this section and KRS 118.415 shall be made no later than the 6
first Tuesday in August preceding the election at which the amendment is to be voted on. 7
Section 5. Notwithstanding any provision of KRS 118.415 to the contrary, not 8
later than the second Monday after the second Tuesday in August preceding the next 9
regular election at which members of the General Assembly are to be chosen in a year in 10
which there is not an election for President and Vice President of the United States, or not 11
later than the Thursday after the first Tuesday in September preceding a regular election 12
in a year in which there is an election for President and Vice President of the United 13
States, the Secretary of State shall certify the complete text of Section 1 of this Act and 14
the entirety of the proposed amendment to the Constitution of Kentucky contained in 15
Section 2 of this Act to the county clerk of each county, and the county clerk shall have 16
the entirety of the text and the amendment, as so certified, indicated on the ballots 17
provided to the voters in paper or electronic form as applicable to the voting machines in 18
use in each county or precinct. 19