AN ACT relating to the property tax monthly installment payment program.

Create a new section in KRS Chapter 134 to establish an installment payment program; define terms; provide installment payment calculation guidelines; require specific property tax information be sent to the taxpayer through notifications or made accessible through an electronic system; allow an administrative fee up to three percent; disallow two percent discount for early payment of taxes; prohibit collection of penalties and interest on installment payments; require the Department of Revenue to promulgate administrative regulations; establish penalties for noncompliance; amend KRS 133.220 to require the sheriff or collector to include specific tax payment information on tax notices; amend KRS 134.015 to conform.