HB1766 Summary

• Modifies the Property Tax Extension Limitation Law to allow a 0% extension limitation when a taxing district's equalized assessed value (excluding new property, recovered tax increment value, and annexed/disconnected property) decreases compared to the previous levy year, unless voters approve a higher rate.

• Prohibits extension limitation referenda from being conducted at general primary or consolidated primary elections; referenda must occur at regularly scheduled elections.

• Requires ballot language and supplemental information for referenda to specify the applicable extension limitation (0% or voter-approved rate) and provide taxpayers with estimated additional tax amounts and impact statements.

• Effective immediately upon becoming law.