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IN HB1116
Bill
Status
1/7/2016
Primary Sponsor
Jeffrey Thompson
Click for details
AI Summary
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Raises the threshold for "controlled projects" requiring petition/remonstrance processes to $10 million or a percentage of property values (1% of first $100M plus 0.5% of amounts exceeding $100M), effective July 1, 2016.
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Increases petition signature requirements from 100 persons to 500 persons or from 5% to 5% of first 5,000 voters plus 2.5% of voters exceeding 5,000 for projects adopted after June 30, 2016.
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Requires political subdivisions to conduct at least two public hearings (instead of one) on controlled projects and include information about estimated debt service levy and rate for the following 10 years.
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Extends the waiting period before holding another referendum after a defeat from 350 days to 700 days, unless a sufficient petition requesting the 350-day limit is submitted.
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Modifies ballot language for capital projects referendums to include estimated property tax rates for debt service over the next 10 years, considering changes from maturing or terminating bonds or lease obligations.
Legislative Description
Referendum process and remonstrance process. Amends the thresholds applicable to the petition and remonstrance process and the referendum process as follows: (1) Specifies that a project is a controlled project for purposes of the law governing those processes if the project will cost more than the lesser of: (A) $10,000,000; or (B) the sum of 1% of the first $100,000,000 of the gross assessed value of property within the political subdivision plus 0.5% of the total amount of that part of the gross assessed value that exceeds $100,000,000. (2) Specifies that voters or property owners may initiate the petition and
Last Action
First reading: referred to Committee on Ways and Means
1/7/2016