HB 2067 Summary

• Prohibits cities, towns, and counties from levying transaction privilege tax on residential rental property from and after December 31, 2023.

• Requires landlords to reduce rent by the amount of the eliminated tax on or before January 1, 2024, with this requirement repealing on December 31, 2026.

• Eliminates residential rental licensing and registration requirements for cities and counties; requires rental information be obtained only from county assessor's offices.

• Distributes $14,965,600 monthly from state tax revenues to affected cities and towns from January 1, 2024 through June 30, 2025 based on their fiscal year 2021-2022 residential rental tax collections.

• Modifies rental agreement provisions regarding pet custody after tenant death or incapacity and removes provisions allowing rent adjustments for municipal tax changes.