authorize the imposition of a county option gross receipts tax to reduce owner-occupied property taxes.

New authority for counties to impose a gross receipts tax of up to 0.5% on taxable sales and services within the county.

All proceeds from the new gross receipts tax must be deposited into a county property tax reduction fund for distribution as tax credits.

Property tax credits from the fund must first be applied equally to all owner-occupied property before any remaining funds can be used for agricultural and nonagricultural property.

Counties must adopt an ordinance to implement the tax and specify that property tax relief will be provided to owner-occupied property.

Added language to tax bill requirements to include property tax credit information for taxes payable in 2028 and later years.

Added provisions requiring contractors to list excise and use taxes as separate line items on contracts and bills.