Legislation - SB0137

Title: Personal Property Tax - Exemptions for Low Assessment - Alteration
Sponsored by: Chair, Budget and Taxation Committee (By Request - Departmental - Assessments and Taxation)
Status: In the Senate - First Reading Budget and Taxation
Analysis

Synopsis

Altering exemptions from the personal property tax for business personal property that has a total original cost below $20,000 by repealing provisions of law that prohibit the State Department of Assessments and Taxation from collecting information or requiring the submission of a personal property tax return from certain businesses that qualify for the exemptions; and applying the Act to all taxable years beginning after June 30, 2026.

Committees

Original:: Budget and Taxation

Details

Cross-filed with: HB0294

Bill File Type: Pre-Filed

Effective Date(s): June 1, 2026

By Request of the Governor

History

Legislation History
Chamber Senate Calendar Date 9/17/2025 Legislative Date 9/17/2025 Action Pre-filed Proceedings
Chamber Senate Calendar Date 1/14/2026 Legislative Date 1/14/2026 Action First Reading Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Personal Property Tax - Exemptions for Low Assessment - Alteration Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	9/17/2025	9/17/2025	Pre-filed
Senate	1/14/2026	1/14/2026	First Reading Budget and Taxation
			Text - First - Personal Property Tax - Exemptions for Low Assessment - Alteration

File Code

Subjects

Statutes