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KY SB41

Bill

Official Source

Status

Engrossed

3/10/2026

Primary Sponsor

Gary Boswell

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Amends Kentucky property tax laws to require automatic voter referendums on any ad valorem tax rate that would produce more than 4% revenue increase from real property over the compensating tax rate, eliminating the current petition-based recall process for such rates
  • Defines "school nickel tax rate" as a $0.05 equivalent rate levied by local boards of education for debt service, new facilities, or major renovations, which remains subject to the existing 45-50 day petition and recall process
  • Requires taxing districts to notify voters at least 30 days before a called election through website posting for two weeks and either newspaper publication or first-class mail to property owners
  • Allows taxing districts to cancel scheduled elections by amending their tax rate to the compensating rate, and if voters reject a proposed rate, the compensating tax rate automatically takes effect
  • Takes effect January 1, 2027

Legislative Description

AN ACT relating to the levy of an ad valorem tax rate.

Local Mandate

Last Action

to Committee on Committees (H)

3/10/2026

Committee Referrals

Committee On Committees3/10/2026
Rules2/26/2026
Appropriations and Revenue2/11/2026
Committee on Committees1/7/2026

Full Bill Text

No bill text available