HB 448 Summary

• Requires nonschool taxing districts to provide notice of intent, hold a public hearing in conjunction with annual budget hearing, and adopt a resolution before budgeting any forgone increase from prior years.

• Limits recovered forgone increases to no more than 100% of the increase originally foregone in any given year.

• Requires the district clerk to file a copy of the adoption resolution with the county clerk and state tax commission upon approval.

• Applies staggered effective dates: Section 1 effective July 1, 2016, and Section 2 (applying to a 2015 amendment) effective July 1, 2017.