IN SB0222

Caps the property tax levy increase from annexation-related assessed value growth at 15% for any ensuing calendar year, regardless of whether a municipality has one or multiple annexations in that year

Eliminates after June 30, 2012, the requirement that landowners demonstrate a specific percentage of opposition (65% of owners or owners of 75% of assessed value) to defeat an annexation in court

Removes after June 30, 2012, the 75% owner opposition threshold for annexations where 80% of the territory boundary is contiguous to the municipality and involves 100 or fewer parcels

Retains requirements that to defeat annexation, courts must still find that police, fire, and street services are adequately provided by another entity, the annexation would significantly financially impact landowners, and annexation is not in landowners' best interests

Contains an emergency clause making the property tax levy provisions effective immediately upon passage, with annexation procedure changes taking effect July 1, 2012