Bill > HB4583

This bill, amending sections 24f and 36 of the General Property Tax Act, primarily aims to restrict when local taxing units can hold elections to authorize new or renewed property taxes, known as millages. Starting January 1, 2027, these millage elections will be limited to the November regular election date, a significant change from the current practice which allows for multiple election dates throughout the year. The bill also clarifies ballot requirements for millage and bond proposals, ensuring voters are fully informed about the purpose, duration, and financial impact of these taxes. Additionally, it addresses the number of millage elections a school district, intermediate school district, or community college district can hold in a year, with specific provisions for when a millage has been defeated previously or if a district's operating revenue has decreased. The term "millage" refers to a tax rate expressed in mills, where one mill is equal to one-tenth of a cent of value.