AN ACT relating to the levy of an ad valorem tax rate.

Repeal and reenact KRS 132.017 to require the portion of a property tax rate which will produce revenue from real property, exclusive of revenue from new property, more than four percent over the amount of revenue produced by the compensating tax rate to be subject to recall by the voters of the district; establish requirements for the ballot question, notifying the public, the election process, and recalling the rate; allow the cancellation of the election; disallow local, state, and federal tax dollars to be used to advocate for the rate; amend various statutes to conform; EFFECTIVE January 1, 2025.