Utah 2025 Regular Session

Utah Senate Bill SB0295 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	Enrolled Copy S.B. 295
	1	+	03-03 16:41 2nd Sub. (Salmon) S.B. 295
	2	+	Daniel McCay proposes the following substitute bill:
2	3		1
3	4		Property Tax Modifications
4	5		2025 GENERAL SESSION
5	6		STATE OF UTAH
6	7		Chief Sponsor: Daniel McCay
7	8		House Sponsor: Steve Eliason
8	9		2
9	10
10	11		3
11	12		LONG TITLE
12	13		4
13	14		General Description:
14	15		5
15	16		This bill modifies the Property Tax Act.
16	17		6
17	18		Highlighted Provisions:
18	19		7
19	20		This bill:
20	21		8
21	22		▸ allows a taxing entity that reduces the taxing entity's budget below the previous year's
22	23		9
23	24		budgeted revenue to increase, for a period of five years, the budget up to the base year
24	25		10
25	26		budget without complying with the truth in taxation notice and public hearing
26	27		11
27	28		requirements;
28	29		12
29	30		▸ repeals the requirement for a portion of revenue generated by the statewide multicounty
30	31		13
31	32		assessing and collecting levy to be set aside for county distributions through the
32	33		14
33	34		Property Tax Valuation Fund and redirects the set aside amount to the Multicounty
34	35		15
35	36		Appraisal Trust; and
36	37		16
37	38		▸ makes technical changes.
38	39		17
39	40		Money Appropriated in this Bill:
40	41		18
41	42		None
42	43		19
43	44		Other Special Clauses:
44	45		20
45	46		This bill provides a special effective date.
46	47		21
47	48		This bill provides retrospective operation.
48	49		22
49	50		Utah Code Sections Affected:
50	51		23
51	52		AMENDS:
52	53		24
53	54		59-2-919 (Effective 05/07/25) (Applies beginning 01/01/25), as last amended by Laws of
54	55		25
55	56		Utah 2024, Chapter 246
56	57		26
57	58		59-2-1602 (Effective 01/01/26), as last amended by Laws of Utah 2022, Chapters 239,
58	59		27
59	60		451
60	61		28
61		-	63I-1-259 (Effective 05/07/25), as last amended by Laws of Utah 2024, Third Special ~~S.B. 295 Enrolled Copy~~
	62	+	63I-1-259 (Effective 05/07/25), as last amended by Laws of Utah 2024, Third Special
62	63		29
63	64		Session, Chapter 5
	65	+	2nd Sub. S.B. 295 2nd Sub. (Salmon) S.B. 295 03-03 16:41
64	66		30
65	67
66	68		31
67	69		Be it enacted by the Legislature of the state of Utah:
68	70		32
69	71		Section 1. Section 59-2-919 is amended to read:
70	72		33
71	73		59-2-919 (Effective 05/07/25) (Applies beginning 01/01/25). Notice and public
72	74		34
73	75		hearing requirements for certain tax increases -- Exceptions -- Audit.
74	76		35
75	77		(1) As used in this section:
76	78		36
77	79		(a) "Additional ad valorem tax revenue" means ad valorem property tax revenue
78	80		37
79	81		generated by the portion of the tax rate that exceeds the taxing entity's certified tax
80	82		38
81	83		rate.
82	84		39
83	85		(b) "Ad valorem tax revenue" means ad valorem property tax revenue not including
84	86		40
85	87		revenue from:
86	88		41
87	89		(i) eligible new growth[ as defined in Section 59-2-924]; or
88	90		42
89	91		(ii) personal property that is:
90	92		43
91	93		(A) assessed by a county assessor in accordance with Part 3, County Assessment;
92	94		44
93	95		and
94	96		45
95	97		(B) semiconductor manufacturing equipment.
96	98		46
97	99		(c) "Base year" means a taxing entity's fiscal year that immediately precedes the fiscal
98	100		47
99	101		year in which the taxing entity first adopted a budget below last year's property tax
100	102		48
101	103		budgeted revenue.
102	104		49
103	105		(d) "Base year budgeted revenue" means the property tax budgeted revenue, excluding
104	106		50
105	107		eligible new growth, for the base year.
106	108		51
107	109		[(c)] (e) "Calendar year taxing entity" means a taxing entity that operates under a fiscal
108	110		52
109	111		year that begins on January 1 and ends on December 31.
110	112		53
111	113		[(d)] (f) "County executive calendar year taxing entity" means a calendar year taxing
112	114		54
113	115		entity that operates under the county executive-council form of government described
114	116		55
115	117		in Section 17-52a-203.
116	118		56
117	119		[(e)] (g) "Current calendar year" means the calendar year immediately preceding the
118	120		57
119	121		calendar year for which a calendar year taxing entity seeks to levy a tax rate that
120	122		58
121	123		exceeds the calendar year taxing entity's certified tax rate.
122	124		59
123	125		(h) "Eligible new growth" means the same as that term is defined in Section 59-2-924.
124	126		60
125	127		[(f)] (i) "Fiscal year taxing entity" means a taxing entity that operates under a fiscal year
126	128		61
127	129		that begins on July 1 and ends on June 30.
128	130		62
129	131		[(g)] (j) "Last year's property tax budgeted revenue" does not include:
130		-	- 2 - Enrolled Copy S.B. 295
131	132		63
132	133		(i) revenue received by a taxing entity from a debt service levy voted on by the public;
	134	+	- 2 - 03-03 16:41 2nd Sub. (Salmon) S.B. 295
133	135		64
134	136		(ii) revenue generated by the combined basic rate as defined in Section 53F-2-301; or
135	137		65
136	138		(iii) revenue generated by the charter school levy described in Section 53F-2-703.
137	139		66
138	140		(k) "Truth-in-taxation exemption period" means a six-year period that begins with the
139	141		67
140	142		base year.
141	143		68
142	144		(2) [A] Except as provided in Subsection (11), a taxing entity may not levy a tax rate that
143	145		69
144	146		exceeds the taxing entity's certified tax rate unless the taxing entity meets:
145	147		70
146	148		(a) the requirements of this section that apply to the taxing entity; and
147	149		71
148	150		(b) all other requirements as may be required by law.
149	151		72
150	152		(3)(a) Subject to Subsection (3)(b) and except as provided in Subsection (5), a calendar
151	153		73
152	154		year taxing entity may levy a tax rate that exceeds the calendar year taxing entity's
153	155		74
154	156		certified tax rate if the calendar year taxing entity:
155	157		75
156	158		(i) 14 or more days before the date of the regular general election or municipal
157	159		76
158	160		general election held in the current calendar year, states at a public meeting:
159	161		77
160	162		(A) that the calendar year taxing entity intends to levy a tax rate that exceeds the
161	163		78
162	164		calendar year taxing entity's certified tax rate;
163	165		79
164	166		(B) the dollar amount of and purpose for additional ad valorem tax revenue that
165	167		80
166	168		would be generated by the proposed increase in the certified tax rate; and
167	169		81
168	170		(C) the approximate percentage increase in ad valorem tax revenue for the taxing
169	171		82
170	172		entity based on the proposed increase described in Subsection (3)(a)(i)(B);
171	173		83
172	174		(ii) provides notice for the public meeting described in Subsection (3)(a)(i) in
173	175		84
174	176		accordance with Title 52, Chapter 4, Open and Public Meetings Act, including
175	177		85
176	178		providing a separate item on the meeting agenda that notifies the public that the
177	179		86
178	180		calendar year taxing entity intends to make the statement described in Subsection
179	181		87
180	182		(3)(a)(i);
181	183		88
182	184		(iii) meets the advertisement requirements of Subsections (6) and (7) before the
183	185		89
184	186		calendar year taxing entity conducts the public hearing required by Subsection
185	187		90
186	188		(3)(a)(v);
187	189		91
188	190		(iv) provides notice by mail:
189	191		92
190	192		(A) seven or more days before the regular general election or municipal general
191	193		93
192	194		election held in the current calendar year; and
193	195		94
194	196		(B) as provided in Subsection (3)(c); and
195	197		95
196	198		(v) conducts a public hearing that is held:
197	199		96
198	200		(A) in accordance with Subsections (8) and (9); and
199		-	- 3 - S.B. 295 Enrolled Copy
200	201		97
201	202		(B) in conjunction with the public hearing required by Section 17-36-13 or
	203	+	- 3 - 2nd Sub. (Salmon) S.B. 295 03-03 16:41
202	204		98
203	205		17B-1-610.
204	206		99
205	207		(b)(i) For a county executive calendar year taxing entity, the statement described in
206	208		100
207	209		Subsection (3)(a)(i) shall be made by the:
208	210		101
209	211		(A) county council;
210	212		102
211	213		(B) county executive; or
212	214		103
213	215		(C) both the county council and county executive.
214	216		104
215	217		(ii) If the county council makes the statement described in Subsection (3)(a)(i) or the
216	218		105
217	219		county council states a dollar amount of additional ad valorem tax revenue that is
218	220		106
219	221		greater than the amount of additional ad valorem tax revenue previously stated by
220	222		107
221	223		the county executive in accordance with Subsection (3)(a)(i), the county executive
222	224		108
223	225		calendar year taxing entity shall:
224	226		109
225	227		(A) make the statement described in Subsection (3)(a)(i) 14 or more days before
226	228		110
227	229		the county executive calendar year taxing entity conducts the public hearing
228	230		111
229	231		under Subsection (3)(a)(v); and
230	232		112
231	233		(B) provide the notice required by Subsection (3)(a)(iv) 14 or more days before
232	234		113
233	235		the county executive calendar year taxing entity conducts the public hearing
234	236		114
235	237		required by Subsection (3)(a)(v).
236	238		115
237	239		(c) The notice described in Subsection (3)(a)(iv):
238	240		116
239	241		(i) shall be mailed to each owner of property:
240	242		117
241	243		(A) within the calendar year taxing entity; and
242	244		118
243	245		(B) listed on the assessment roll;
244	246		119
245	247		(ii) shall be printed on a separate form that:
246	248		120
247	249		(A) is developed by the commission;
248	250		121
249	251		(B) states at the top of the form, in bold upper-case type no smaller than 18 point
250	252		122
251	253		"NOTICE OF PROPOSED TAX INCREASE"; and
252	254		123
253	255		(C) may be mailed with the notice required by Section 59-2-1317;
254	256		124
255	257		(iii) shall contain for each property described in Subsection (3)(c)(i):
256	258		125
257	259		(A) the value of the property for the current calendar year;
258	260		126
259	261		(B) the tax on the property for the current calendar year; and
260	262		127
261	263		(C) subject to Subsection (3)(d), for the calendar year for which the calendar year
262	264		128
263	265		taxing entity seeks to levy a tax rate that exceeds the calendar year taxing
264	266		129
265	267		entity's certified tax rate, the estimated tax on the property;
266	268		130 (iv) shall contain the following statement:
267		-	- 4 - Enrolled Copy S.B. 295
268	269		131
269	270		"[Insert name of taxing entity] is proposing a tax increase for [insert applicable calendar
	271	+	- 4 - 03-03 16:41 2nd Sub. (Salmon) S.B. 295
270	272		132
271	273		year]. This notice contains estimates of the tax on your property and the proposed tax increase
272	274		133
273	275		on your property as a result of this tax increase. These estimates are calculated on the basis of
274	276		134
275	277		[insert previous applicable calendar year] data. The actual tax on your property and proposed
276	278		135
277	279		tax increase on your property may vary from this estimate.";
278	280		136
279	281		(v) shall state the dollar amount of additional ad valorem tax revenue that would be
280	282		137
281	283		generated each year by the proposed increase in the certified tax rate;
282	284		138
283	285		(vi) shall include a brief statement of the primary purpose for the proposed tax
284	286		139
285	287		increase, including the taxing entity's intended use of additional ad valorem tax
286	288		140
287	289		revenue described in Subsection (3)(c)(v);
288	290		141
289	291		(vii) shall state the date, time, and place of the public hearing described in Subsection
290	292		142
291	293		(3)(a)(v);
292	294		143
293	295		(viii) shall state the Internet address for the taxing entity's public website;
294	296		144
295	297		(ix) may contain other information approved by the commission; and
296	298		145
297	299		(x) if sent in calendar year 2024, 2025, or 2026, shall contain:
298	300		146
299	301		(A) notice that the taxpayer may request electronic notice as described in
300	302		147
301	303		Subsection 17-21-6(1)(m); and
302	304		148
303	305		(B) instructions describing how to elect to receive a notice as described in
304	306		149
305	307		Subsection 17-21-6(1)(m).
306	308		150
307	309		(d) For purposes of Subsection (3)(c)(iii)(C), a calendar year taxing entity shall calculate
308	310		151
309	311		the estimated tax on property on the basis of:
310	312		152
311	313		(i) data for the current calendar year; and
312	314		153
313	315		(ii) the amount of additional ad valorem tax revenue stated in accordance with this
314	316		154
315	317		section.
316	318		155
317	319		(4) Except as provided in Subsection (5), a fiscal year taxing entity may levy a tax rate that
318	320		156
319	321		exceeds the fiscal year taxing entity's certified tax rate if the fiscal year taxing entity:
320	322		157
321		-	(a) provides notice by meeting the advertisement requirements of Subsections (6) and ~~(7)~~
	323	+	(a) provides notice by meeting the advertisement requirements of Subsections (6) and
322	324		158
323		-	before the fiscal year taxing entity conducts the public meeting at which the fiscal
	325	+	(7) before the fiscal year taxing entity conducts the public meeting at which the fiscal
324	326		159
325	327		year taxing entity's annual budget is adopted; and
326	328		160
327	329		(b) conducts a public hearing in accordance with Subsections (8) and (9) before the
328	330		161
329	331		fiscal year taxing entity's annual budget is adopted.
330	332		162
331	333		(5)(a) A taxing entity is not required to meet the notice or public hearing requirements of
332	334		163
333	335		Subsection (3) or (4) if the taxing entity is expressly exempted by law from
334	336		164
335	337		complying with the requirements of this section.
336		-	- 5 - S.B. 295 Enrolled Copy
337	338		165
338	339		(b) A taxing entity is not required to meet the notice requirements of Subsection (3) or
	340	+	- 5 - 2nd Sub. (Salmon) S.B. 295 03-03 16:41
339	341		166
340	342		(4) if:
341	343		167
342	344		(i) Section 53F-8-301 allows the taxing entity to levy a tax rate that exceeds that
343	345		168
344	346		certified tax rate without having to comply with the notice provisions of this
345	347		169
346	348		section; or
347	349		170
348	350		(ii) the taxing entity:
349	351		171
350	352		(A) budgeted less than $20,000 in ad valorem tax revenue for the previous fiscal
351	353		172
352	354		year; and
353	355		173
354	356		(B) sets a budget during the current fiscal year of less than $20,000 of ad valorem
355	357		174
356	358		tax revenue.
357	359		175
358	360		(6)(a) Subject to Subsections (6)(d) and (7)(b), the advertisement described in this
359	361		176
360	362		section shall be published:
361	363		177
362	364		(i) subject to Section 45-1-101, in a newspaper or combination of newspapers of
363	365		178
364	366		general circulation in the taxing entity;
365	367		179
366	368		(ii) electronically in accordance with Section 45-1-101; and
367	369		180
368	370		(iii) for the taxing entity, as a class A notice under Section 63G-30-102, for at least
369	371		181
370	372		14 days before the day on which the taxing entity conducts the public hearing
371	373		182
372	374		described in Subsection (3)(a)(v) or (4)(b).
373	375		183
374	376		(b) The advertisement described in Subsection (6)(a)(i) shall:
375	377		184
376	378		(i) be no less than 1/4 page in size;
377	379		185
378	380		(ii) use type no smaller than 18 point; and
379	381		186
380	382		(iii) be surrounded by a 1/4-inch border.
381	383		187
382	384		(c) The advertisement described in Subsection (6)(a)(i) may not be placed in that portion
383	385		188
384	386		of the newspaper where legal notices and classified advertisements appear.
385	387		189
386	388		(d) It is the intent of the Legislature that:
387	389		190
388	390		(i) whenever possible, the advertisement described in Subsection (6)(a)(i) appear in a
389	391		191
390	392		newspaper that is published at least one day per week; and
391	393		192
392	394		(ii) the newspaper or combination of newspapers selected:
393	395		193
394	396		(A) be of general interest and readership in the taxing entity; and
395	397		194
396	398		(B) not be of limited subject matter.
397	399		195
398	400		(e)(i) The advertisement described in Subsection (6)(a)(i) shall:
399	401		196
400	402		(A) except as provided in Subsection (6)(f), be run once each week for the two
401	403		197
402	404		weeks before a taxing entity conducts a public hearing described under
403	405		198
404	406		Subsection (3)(a)(v) or (4)(b);
405		-	- 6 - Enrolled Copy S.B. 295
406	407		199
407	408		(B) state that the taxing entity will meet on a certain day, time, and place fixed in
	409	+	- 6 - 03-03 16:41 2nd Sub. (Salmon) S.B. 295
408	410		200
409	411		the advertisement, which shall be seven or more days after the day the first
410	412		201
411	413		advertisement is published, for the purpose of hearing comments regarding any
412	414		202
413	415		proposed increase and to explain the reasons for the proposed increase; and
414	416		203
415	417		(C) state the Internet address for the taxing entity's public website.
416	418		204
417	419		(ii) The advertisement described in Subsection (6)(a)(ii) shall:
418	420		205
419	421		(A) be published two weeks before a taxing entity conducts a public hearing
420	422		206
421	423		described in Subsection (3)(a)(v) or (4)(b);
422	424		207
423	425		(B) state that the taxing entity will meet on a certain day, time, and place fixed in
424	426		208
425	427		the advertisement, which shall be seven or more days after the day the first
426	428		209
427	429		advertisement is published, for the purpose of hearing comments regarding any
428	430		210
429	431		proposed increase and to explain the reasons for the proposed increase; and
430	432		211
431	433		(C) state the Internet address for the taxing entity's public website.
432	434		212
433	435		(f) If a fiscal year taxing entity's public hearing information is published by the county
434	436		213
435	437		auditor in accordance with Section 59-2-919.2, the fiscal year taxing entity is not
436	438		214
437	439		subject to the requirement to run the advertisement twice, as required by Subsection
438	440		215
439	441		(6)(e)(i), but shall run the advertisement once during the week before the fiscal year
440	442		216
441	443		taxing entity conducts a public hearing at which the taxing entity's annual budget is
442	444		217
443	445		discussed.
444	446		218 (g) For purposes of Subsection (3)(a)(iii) or (4)(a), the form and content of an advertisement
445	447		219
446	448		shall be substantially as follows:
447	449		220
448	450		"NOTICE OF PROPOSED TAX INCREASE
449	451		221
450	452		(NAME OF TAXING ENTITY)
451	453		222
452	454		The (name of the taxing entity) is proposing to increase its property tax revenue.
453	455		223
454	456		• The (name of the taxing entity) tax on a (insert the average value of a residence in
455	457		224
456	458		the taxing entity rounded to the nearest thousand dollars) residence would increase from
457	459		225
458	460		$______ to $________, which is $_______ per year.
459	461		226
460	462		• The (name of the taxing entity) tax on a (insert the value of a business having the
461	463		227
462	464		same value as the average value of a residence in the taxing entity) business would increase
463	465		228
464	466		from $________ to $_______, which is $______ per year.
465	467		229
466	468		• If the proposed budget is approved, (name of the taxing entity) would receive an
467	469		230
468	470		additional $______ in property tax revenue per year as a result of the tax increase.
469	471		231
470	472		• If the proposed budget is approved, (name of the taxing entity) would increase its
471	473		232
472	474		property tax budgeted revenue by ___% above last year's property tax budgeted revenue
473		-	- 7 - S.B. 295 Enrolled Copy
474	475		233
475	476		excluding eligible new growth.
	477	+	- 7 - 2nd Sub. (Salmon) S.B. 295 03-03 16:41
476	478		234
477	479		The (name of the taxing entity) invites all concerned citizens to a public hearing for the
478	480		235
479	481		purpose of hearing comments regarding the proposed tax increase and to explain the reasons
480	482		236
481	483		for the proposed tax increase.
482	484		237
483	485		PUBLIC HEARING
484	486		238
485	487		Date/Time: (date) (time)
486	488		239
487	489		Location: (name of meeting place and address of meeting place)
488	490		240
489	491		To obtain more information regarding the tax increase, citizens may contact the (name
490	492		241
491	493		of the taxing entity) at (phone number of taxing entity) or visit (Internet address for the taxing
492	494		242
493	495		entity's public website)."
494	496		243
495	497		(7) The commission:
496	498		244
497	499		(a) shall adopt rules in accordance with Title 63G, Chapter 3, Utah Administrative
498	500		245
499	501		Rulemaking Act, governing the joint use of one advertisement described in
500	502		246
501	503		Subsection (6) by two or more taxing entities; and
502	504		247
503	505		(b) subject to Section 45-1-101, may authorize:
504	506		248
505	507		(i) the use of a weekly newspaper:
506	508		249
507	509		(A) in a county having both daily and weekly newspapers if the weekly newspaper
508	510		250
509	511		would provide equal or greater notice to the taxpayer; and
510	512		251
511	513		(B) if the county petitions the commission for the use of the weekly newspaper; or
512	514		252
513	515		(ii) the use by a taxing entity of a commission approved direct notice to each taxpayer
514	516		253
515	517		if:
516	518		254
517	519		(A) the cost of the advertisement would cause undue hardship;
518	520		255
519	521		(B) the direct notice is different and separate from that provided for in Section
520	522		256
521	523		59-2-919.1; and
522	524		257
523	525		(C) the taxing entity petitions the commission for the use of a commission
524	526		258
525	527		approved direct notice.
526	528		259
527	529		(8)(a)(i) A fiscal year taxing entity shall, on or before June 1, notify the commission
528	530		260
529	531		and the county auditor of the date, time, and place of the public hearing described
530	532		261
531	533		in Subsection (4)(b).
532	534		262
533	535		(ii) A calendar year taxing entity shall, on or before October 1 of the current calendar
534	536		263
535	537		year, notify the commission and the county auditor of the date, time, and place of
536	538		264
537	539		the public hearing described in Subsection (3)(a)(v).
538	540		265
539	541		(b)(i) A public hearing described in Subsection (3)(a)(v) or (4)(b) shall be:
540	542		266
541	543		(A) open to the public; and
542		-	- 8 - Enrolled Copy S.B. 295
543	544		267
544	545		(B) held at a meeting of the taxing entity with no items on the agenda other than
	546	+	- 8 - 03-03 16:41 2nd Sub. (Salmon) S.B. 295
545	547		268
546	548		discussion and action on the taxing entity's intent to levy a tax rate that exceeds
547	549		269
548	550		the taxing entity's certified tax rate, the taxing entity's budget, a special
549	551		270
550	552		district's or special service district's fee implementation or increase, or a
551	553		271
552	554		combination of these items.
553	555		272
554	556		(ii) The governing body of a taxing entity conducting a public hearing described in
555	557		273
556	558		Subsection (3)(a)(v) or (4)(b) shall:
557	559		274
558	560		(A) state the dollar amount of additional ad valorem tax revenue that would be
559	561		275
560	562		generated each year by the proposed increase in the certified tax rate;
561	563		276
562	564		(B) explain the reasons for the proposed tax increase, including the taxing entity's
563	565		277
564	566		intended use of additional ad valorem tax revenue described in Subsection
565	567		278
566	568		(8)(b)(ii)(A);
567	569		279
568	570		(C) if the county auditor compiles the list required by Section 59-2-919.2, present
569	571		280
570	572		the list at the public hearing and make the list available on the taxing entity's
571	573		281
572	574		public website; and
573	575		282
574	576		(D) provide an interested party desiring to be heard an opportunity to present oral
575	577		283
576	578		testimony within reasonable time limits and without unreasonable restriction
577	579		284
578	580		on the number of individuals allowed to make public comment.
579	581		285
580	582		(c)(i) Except as provided in Subsection (8)(c)(ii), a taxing entity may not schedule a
581	583		286
582	584		public hearing described in Subsection (3)(a)(v) or (4)(b) at the same time as the
583	585		287
584	586		public hearing of another overlapping taxing entity in the same county.
585	587		288
586	588		(ii) The taxing entities in which the power to set tax levies is vested in the same
587	589		289
588	590		governing board or authority may consolidate the public hearings described in
589	591		290
590	592		Subsection (3)(a)(v) or (4)(b) into one public hearing.
591	593		291
592	594		(d) The county auditor shall resolve any conflict in public hearing dates and times after
593	595		292
594	596		consultation with each affected taxing entity.
595	597		293
596	598		(e)(i) A taxing entity shall hold a public hearing described in Subsection (3)(a)(v) or
597	599		294
598	600		(4)(b) beginning at or after 6 p.m.
599	601		295
600	602		(ii) If a taxing entity holds a public meeting for the purpose of addressing general
601	603		296
602	604		business of the taxing entity on the same date as a public hearing described in
603	605		297
604	606		Subsection (3)(a)(v) or (4)(b), the public meeting addressing general business
605	607		298
606	608		items shall conclude before the beginning of the public hearing described in
607	609		299
608	610		Subsection (3)(a)(v) or (4)(b).
609	611		300
610	612		(f)(i) Except as provided in Subsection (8)(f)(ii), a taxing entity may not hold the
611		-	- 9 - S.B. 295 Enrolled Copy
612	613		301
613	614		public hearing described in Subsection (3)(a)(v) or (4)(b) on the same date as
	615	+	- 9 - 2nd Sub. (Salmon) S.B. 295 03-03 16:41
614	616		302
615	617		another public hearing of the taxing entity.
616	618		303
617	619		(ii) A taxing entity may hold the following hearings on the same date as a public
618	620		304
619	621		hearing described in Subsection (3)(a)(v) or (4)(b):
620	622		305
621	623		(A) a budget hearing;
622	624		306
623	625		(B) if the taxing entity is a special district or a special service district, a fee
624	626		307
625	627		hearing described in Section 17B-1-643;
626	628		308
627	629		(C) if the taxing entity is a town, an enterprise fund hearing described in Section
628	630		309
629	631		10-5-107.5; or
630	632		310
631	633		(D) if the taxing entity is a city, an enterprise fund hearing described in Section
632	634		311
633	635		10-6-135.5.
634	636		312
635	637		(9)(a) If a taxing entity does not make a final decision on budgeting additional ad
636	638		313
637	639		valorem tax revenue at a public hearing described in Subsection (3)(a)(v) or (4)(b),
638	640		314
639	641		the taxing entity shall:
640	642		315
641	643		(i) announce at that public hearing the scheduled time and place of the next public
642	644		316
643	645		meeting at which the taxing entity will consider budgeting the additional ad
644	646		317
645	647		valorem tax revenue; and
646	648		318
647	649		(ii) if the taxing entity is a fiscal year taxing entity, hold the public meeting described
648	650		319
649	651		in Subsection (9)(a)(i) before September 1.
650	652		320
651	653		(b) A calendar year taxing entity may not adopt a final budget that budgets an amount of
652	654		321
653	655		additional ad valorem tax revenue that exceeds the largest amount of additional ad
654	656		322
655	657		valorem tax revenue stated at a public meeting under Subsection (3)(a)(i).
656	658		323
657	659		(c) A public hearing on levying a tax rate that exceeds a fiscal year taxing entity's
658	660		324
659	661		certified tax rate may coincide with a public hearing on the fiscal year taxing entity's
660	662		325
661	663		proposed annual budget.
662	664		326
663	665		(10)(a) A county auditor may conduct an audit to verify a taxing entity's compliance
664	666		327
665	667		with Subsection (8).
666	668		328
667	669		(b) If the county auditor, after completing an audit, finds that a taxing entity has failed to
668	670		329
669	671		meet the requirements of Subsection (8), the county auditor shall prepare and submit
670	672		330
671	673		a report of the auditor's findings to the commission.
672	674		331
673	675		(c) The commission may not certify a tax rate that exceeds a taxing entity's certified tax
674	676		332
675	677		rate if, on or before September 15 of the year in which the taxing entity is required to
676	678		333
677	679		hold the public hearing described in Subsection (3)(a)(v) or (4)(b), the commission
678	680		334
679	681		determines that the taxing entity has failed to meet the requirements of Subsection (8).
680		-	- 10 - Enrolled Copy S.B. 295
681	682		335
682	683		(11) For a fiscal year within a truth-in-taxation exemption period, a taxing entity may adopt
	684	+	- 10 - 03-03 16:41 2nd Sub. (Salmon) S.B. 295
683	685		336
684	686		a budget that is equal to or less than the base year budgeted revenue without complying
685	687		337
686	688		with this section.
687	689		338
688	690		Section 2. Section 59-2-1602 is amended to read:
689	691		339
690	692		59-2-1602 (Effective 01/01/26). Property Tax Valuation Fund -- Statewide levy --
691	693		340
692	694		Additional county levy.
693	695		341
694	696		(1)(a) There is created a custodial fund known as the "Property Tax Valuation Fund."
695	697		342
696	698		(b) The fund consists of:
697	699		343
698	700		(i) deposits made and penalties received under Subsection (3); and
699	701		344
700	702		(ii) interest on money deposited into the fund.
701	703		345
702	704		(c) Deposits, penalties, and interest described in Subsection (1)(b) shall be disbursed and
703	705		346
704	706		used as provided in Section 59-2-1603.
705	707		347
706	708		(2)(a) Each county shall annually impose a multicounty assessing and collecting levy as
707	709		348
708	710		provided in this Subsection (2).
709	711		349
710	712		(b) The tax rate of the multicounty assessing and collecting levy is[:]
711	713		350
712	714		[(i) for a calendar year beginning on or after January 1, 2022, and before January 1,
713	715		351
714	716		2025,.000015; and]
715	717		352
716	718		[(ii) for a calendar year beginning on or after January 1, 2025,] the certified revenue
717	719		353
718	720		levy.
719	721		354
720	722		(c) The state treasurer shall allocate all revenue collected from the multicounty assessing
721	723		355
722	724		and collecting levy [as follows:] to the Multicounty Appraisal Trust.
723	725		356
724	726		[(i) 18% of the revenue collected shall be deposited into the Property Tax Valuation
725	727		357
726	728		Fund, up to $500,000 annually; and]
727	729		358
728	730		[(ii) after the deposit described in Subsection (2)(c)(i), all remaining revenue
729	731		359
730	732		collected from the multicounty assessing and collecting levy shall be deposited
731	733		360
732	734		into the Multicounty Appraisal Trust.]
733	735		361
734	736		(3)(a) The multicounty assessing and collecting levy imposed under Subsection (2) shall
735	737		362
736	738		be separately stated on the tax notice as a multicounty assessing and collecting levy.
737	739		363
738	740		(b) The multicounty assessing and collecting levy is:
739	741		364
740	742		(i) exempt from Sections 17C-1-403 through 17C-1-406;
741	743		365
742	744		(ii) in addition to and exempt from the maximum levies allowable under Section
743	745		366
744	746		59-2-908; and
745	747		367
746	748		(iii) exempt from the notice and public hearing requirements of Section 59-2-919.
747	749		368
748	750		(c)(i) Each county shall transmit quarterly to the state treasurer the revenue collected
749		-	- 11 - S.B. 295 Enrolled Copy
750	751		369
751	752		from the multicounty assessing and collecting levy.
	753	+	- 11 - 2nd Sub. (Salmon) S.B. 295 03-03 16:41
752	754		370
753	755		(ii) The revenue transmitted under Subsection (3)(c)(i) shall be transmitted no later
754	756		371
755	757		than the tenth day of the month following the end of the quarter in which the
756	758		372
757	759		revenue is collected.
758	760		373
759	761		(iii) If revenue transmitted under Subsection (3)(c)(i) is transmitted after the tenth
760	762		374
761	763		day of the month following the end of the quarter in which the revenue is
762	764		375
763	765		collected, the county shall pay an interest penalty at the rate of 10% each year
764	766		376
765	767		until the revenue is transmitted.
766	768		377
767	769		(d) The state treasurer shall allocate the penalties received under this Subsection (3) in
768	770		378
769	771		the same manner as revenue is allocated under Subsection (2)(c).
770	772		379
771	773		(4)(a) A county may levy a county additional property tax in accordance with this
772	774		380
773	775		Subsection (4).
774	776		381
775	777		(b) The county additional property tax:
776	778		382
777	779		(i) shall be separately stated on the tax notice as a county assessing and collecting
778	780		383
779	781		levy;
780	782		384
781	783		(ii) may not be incorporated into the rate of any other levy;
782	784		385
783	785		(iii) is exempt from Sections 17C-1-403 through 17C-1-406; and
784	786		386
785	787		(iv) is in addition to and exempt from the maximum levies allowable under Section
786	788		387
787	789		59-2-908.
788	790		388
789	791		(c) Revenue collected from the county additional property tax shall be used to:
790	792		389
791	793		(i) promote the accurate valuation and uniform assessment levels of property as
792	794		390
793	795		required by Section 59-2-103;
794	796		391
795	797		(ii) promote the efficient administration of the property tax system, including the
796	798		392
797	799		costs of assessment, collection, and distribution of property taxes;
798	800		393
799	801		(iii) fund state mandated actions to meet legislative mandates or judicial or
800	802		394
801	803		administrative orders that relate to promoting:
802	804		395
803	805		(A) the accurate valuation of property; and
804	806		396
805	807		(B) the establishment and maintenance of uniform assessment levels within and
806	808		397
807	809		among counties; and
808	810		398
809	811		(iv) establish reappraisal programs that:
810	812		399
811	813		(A) are adopted by a resolution or ordinance of the county legislative body; and
812	814		400
813	815		(B) conform to rules the commission makes in accordance with Title 63G,
814	816		401
815	817		Chapter 3, Utah Administrative Rulemaking Act.
816	818		402
817	819		Section 3. Section 63I-1-259 is amended to read:
818		-	- 12 - Enrolled Copy S.B. 295
819	820		403
820	821		63I-1-259 (Effective 05/07/25). Repeal dates: Title 59.
	822	+	- 12 - 03-03 16:41 2nd Sub. (Salmon) S.B. 295
821	823		404
822	824		(1) Subsection 59-1-403(4)(aa), regarding a requirement for the State Tax Commission to
823	825		405
824	826		inform the Department of Workforce Services whether an individual claimed a federal
825	827		406
826	828		earned income tax credit, is repealed July 1, 2029.
827	829		407
828	830		(2) Section 59-2-1603, Allocation of money in the Property Tax Valuation Fund -- Use of
829	831		408
830	832		funds, is repealed July 1, 2030.
831	833		409
832	834		[(2)] (3) Section 59-7-618.1, Tax credit related to alternative fuel heavy duty vehicles, is
833	835		410
834	836		repealed July 1, 2029.
835	837		411
836	838		[(3)] (4) Section 59-9-102.5, Offset for occupational health and safety related donations, is
837	839		412
838	840		repealed December 31, 2030.
839	841		413
840	842		[(4)] (5) Section 59-10-1033.1, Tax credit related to alternative fuel heavy duty vehicles, is
841	843		414
842	844		repealed July 1, 2029.
843	845		415
844	846		Section 4. Effective Date.
845	847		416
846	848		(1) Except as provided in Subsection (2), this bill takes effect May 7, 2025.
847	849		417
848	850		(2) The actions affecting Section 59-2-1602 (Effective 01/01/26) take effect on January 1,
849	851		418
850	852		2026.
851	853		419
852	854		Section 5. Retrospective operation.
853	855		420
854	856		The actions affecting Section 59-2-919 have retrospective operation to January 1, 2025.
855	857		- 13 -