|
House Bill 1869 |
House Author: Burrows et al. |
|
Effective: 9-1-21 |
Senate Sponsor: Bettencourt |
House Bill 1869 amends the Tax Code to require that indebtedness owed by a taxing unit be approved at an election, include self‑supporting debt, evidence a loan under a state or federal financial assistance program, or be issued for one of several approved purposes in order to be considered debt for purposes of calculating the unit's property tax rate. The bill removes the requirement that such debt be payable solely from property taxes.