Requires homeowner’s insurance providers to provide two months’ notice before increasing any policy more that 20%. Also caps rate increases for policy holders that are 65 years of age or older and meet certain income limits.
Effective July 1, 2025, provides that, the profit margin of any electric distribution company or gas distribution company, would not exceed 4%, in any calendar year and defines a "profit margin" as the return on equity that is allowed by the commission.
Directs the commissioner of postsecondary education to prepare a strategic plan for public higher education which is aligned with the goals of the board of education's strategic plan.
Includes municipal detention facility corporations as exempt from taxation, and requires that an amount equal to 27% of all tax that would have been collected if the property was taxable be paid to the municipality annually.
Allows a municipality to set its own conveyance tax rate for residential properties sold in excess of $900,000.00 at $10 per $500. Provides collected taxes to be in a restricted account and distributed within 2 years for affordable housing.
Increases the state earned-income credit as of January 1, 2026 to seventeen percent (17%) of the federal earned-income credit, not to exceed the amount of state income tax.
Removes the exemption from the state hotel tax for residences rented in their entirety on a hosting platform on or after January 1, 2026, for a period of thirty (30) nights or less.
Limits copays, coinsurance or office deductibles for services of a physical therapist to the amount authorized for the services of a primary care physician or osteopath on or after January 1, 2026.