HB 5088 Summary

• Requires ballots for millage and bond proposals to fully disclose which local units of government will receive the revenue, defining local units as counties, cities, villages, townships, school districts, intermediate school districts, community college districts, public libraries, and local authorities.

• Mandates ballots for millage proposals state the millage rate, estimated first-year revenue, duration in years, purpose, and whether it is a renewal or new additional millage.

• Requires ballots for bond proposals disclose the principal amount, maximum years outstanding, purpose, and for general obligation bonds financed by ad valorem millage, a statement that the millage rate may adjust if aggregate taxable property value changes.

• Specifies that for non-ad valorem financed bonds, ballots must show estimated millage in the first year and estimated simple average annual millage to retire the debt, with a provision that estimation inaccuracies do not invalidate bonds or election results.

• Limits taxing units to no more than 2 elections per calendar year for millage authorizations exceeding the reduced maximum rate, and prohibits combining renewal and new additional millage questions in a single ballot question if the new millage exceeds 0.5 mill.