HB3177 - Taxpayer Protection Act

• Prohibits extension or reissuance of referendum-approved bonds or debt unless authorized by a new separate referendum, effective immediately upon enactment.

• Requires governmental units to wait at least one year after a referendum-approved bond retires before submitting a new referendum for bond issuance or debt incurrence.

• Requires governmental units to wait at least one year between consecutive bond/debt referendums to allow taxpayers to observe the impact of previous bonds on their taxes.

• Limits home rule powers by establishing bond and debt regulation as exclusive state functions, preventing home rule units from modifying these requirements.

• Mandates school districts send informational fact sheets to all voting-age residents at least 30 days before bond or property tax rate increase referendums, including project descriptions, estimated costs, debt service totals, and tax impact comparisons.

• Modifies property tax code to eliminate automatic annual increases to debt service extension bases unless voters approve them by referendum after the effective date.