House Bill 442 - Summary

• Changes the deadline for the State Tax Commission to complete its equalization work as the State Board of Equalization from a specific date to "during its meeting" after receipt of county auditor abstracts, but maintains the no-later-than fourth Monday of August deadline.

• Revises occupancy tax procedures to clarify that improvements exempt as of January 1 but subject to occupancy tax during that tax year shall not be subject to property tax, and updates notification requirements for appraisals and appeal rights.

• Requires the county tax collector to notify landowners of yield tax amounts due by the fourth Monday in November (for January-June timber severance) and by the fourth Monday in May (for July-December severance), with specific payment deadlines of December 20 and June 20 respectively.

• Makes technical corrections to occupancy tax and yield tax provisions, including changes to appraisal notification language and clarification of penalties for failing to report occupancy.

• Declares an emergency and applies the act retroactively to January 1, 2013.