SENATE BILL 1184 - Summary

• Prohibits cities, towns, and taxing jurisdictions from levying transaction privilege taxes on residential rental property effective December 31, 2023.

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

• Distributes $14,965,600 monthly from state general tax revenues to affected cities and towns from December 31, 2023 through June 30, 2025 based on the amount each jurisdiction collected from residential rental taxes during fiscal year 2021-2022.

• Prohibits cities and counties from adopting residential rental property licensing or registration requirements; allows only inspection programs with specific procedural requirements.

• Amends property tax notice forms to remove references to residential rental property transaction privilege tax requirements and clarifies landlord-tenant law compliance obligations.