Legislation - SB0598

Requiring the supervisor of assessments for a county to evaluate a certain net operating income calculation when determining the value of commercial real property that is developed under low-income housing provisions of federal law; and applying the Act to all taxable years beginning after June 30, 2025.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Opposite:: Ways and Means

Committee Testimony

Witness List

Details

Cross-filed with: HB0585

Bill File Type: Regular

Effective Date(s): June 1, 2025

History

Legislation History
Chamber Senate Calendar Date 1/27/2025 Legislative Date 1/23/2025 Action First Reading Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Property Tax – Low–Income Housing Tax Credit – Valuation of Property Proceedings
Chamber Senate Calendar Date 1/30/2025 Legislative Date 1/30/2025 Action Hearing 2/19 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 2/06/2025 Legislative Date 2/06/2025 Action Hearing canceled Proceedings
Chamber Senate Calendar Date 2/06/2025 Legislative Date 2/06/2025 Action Hearing 2/12 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 2/11/2025 Legislative Date 2/11/2025 Action Hearing canceled Proceedings
Chamber Senate Calendar Date 2/11/2025 Legislative Date 2/11/2025 Action Hearing 2/12 at 1:05 p.m. Proceedings
Chamber Senate Calendar Date 2/11/2025 Legislative Date 2/11/2025 Action Hearing canceled Proceedings
Chamber Senate Calendar Date 2/11/2025 Legislative Date 2/11/2025 Action Hearing 2/12 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 3/10/2025 Legislative Date 3/10/2025 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 3/11/2025 Legislative Date 2/21/2025 Action Favorable with Amendments {793723/1 Adopted Proceedings 41 Click to view Recorded Media
Chamber Senate Calendar Date 3/11/2025 Legislative Date 2/21/2025 Action Second Reading Passed with Amendments Proceedings 41 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Property Tax – Low–Income Housing Tax Credit – Valuation of Property Proceedings
Chamber Senate Calendar Date 3/12/2025 Legislative Date 2/23/2025 Action Third Reading Passed (47-0) Proceedings 43 Click to view Recorded Media
Chamber House Calendar Date 3/13/2025 Legislative Date 3/02/2025 Action Referred Ways and Means Proceedings 42 Click to view Recorded Media

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	1/27/2025	1/23/2025	First Reading Budget and Taxation
			Text - First - Property Tax – Low–Income Housing Tax Credit – Valuation of Property
Senate	1/30/2025	1/30/2025	Hearing 2/19 at 1:00 p.m.
Senate	2/06/2025	2/06/2025	Hearing canceled
Senate	2/06/2025	2/06/2025	Hearing 2/12 at 1:00 p.m.
Senate	2/11/2025	2/11/2025	Hearing canceled
Senate	2/11/2025	2/11/2025	Hearing 2/12 at 1:05 p.m.
Senate	2/11/2025	2/11/2025	Hearing canceled
Senate	2/11/2025	2/11/2025	Hearing 2/12 at 1:00 p.m.
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	3/10/2025	3/10/2025	Favorable with Amendments Report by Budget and Taxation
Senate	3/11/2025	2/21/2025	Favorable with Amendments {793723/1 Adopted	41 Click to view Recorded Media
Senate	3/11/2025	2/21/2025	Second Reading Passed with Amendments	41 Click to view Recorded Media
			Text - Third - Property Tax – Low–Income Housing Tax Credit – Valuation of Property
Senate	3/12/2025	2/23/2025	Third Reading Passed (47-0)	43 Click to view Recorded Media
House	3/13/2025	3/02/2025	Referred Ways and Means	42 Click to view Recorded Media

File Code

Subjects

Statutes