Tax Amendments

Created the Statewide Tax Administration and Technology Solutions (STATS) program to centralize property tax administration, valuation services, and tax increment data management.

Requires local entities seeking to use tax increment to first conduct a public meeting and submit a detailed disclosure package to the program manager before triggering tax collection.

Mandates that entities receiving more tax increment than projected must use the excess revenue to pay off debt or accelerate debt repayment.

Updated definitions for public safety districts (fire and police) to clarify which counties and municipalities are included when land transitions from unincorporated county areas to incorporated cities.

Establishes penalties and withholding mechanisms for local entities that fail to submit required annual reports to the program manager.

Set a July 1, 2026, effective date for the new pre-increment disclosure and public meeting requirements for tax increment usage.

The legal entity 'Multicounty Appraisal Trust' is removed and replaced with the 'Statewide Tax Administration and Technology Solutions program' and a 'program manager'.

Local entities seeking to use tax increment financing must now conduct a public meeting and submit a notice to the program manager before triggering the financing.

Local entities receiving tax increment revenue must now report annually to the program manager.

Public entities that receive more tax increment revenue than anticipated are now required to use the excess revenue to pay off debt.

The bill transfers existing personal property, real property, and unexpended revenue from the Multicounty Appraisal Trust to the new program manager.

The program manager is authorized to determine if local entities complied with the new notice requirements before allowing them to trigger tax increment financing.

Transfers statutory responsibilities and assets from the Multicounty Appraisal Trust (MCAT) to a new 'Program Manager' for the STATS program.

Requires entities using tax increment financing to hold a public meeting and submit a detailed disclosure before triggering tax revenue collection.

Mandates that entities receiving more tax increment than projected must use the excess revenue to pay off debt or accelerate debt repayment.

Creates new definitions for the 'Program Manager', 'STATS', and 'TIF entity' to govern the new administration structure.

Establishes penalties and withholding mechanisms for TIF entities that fail to submit required annual reports or exceed their authorized tax increment limits.

Requires the Program Manager to maintain a statewide web portal for uniform access to property characteristics and features.

Created a new 'Statewide Tax Administration and Technology Solutions program' and defined a new 'program manager' role to replace the Multicounty Appraisal Trust.

Added new requirements for entities intending to use tax increment to conduct a public meeting and submit specific notices to taxing entities before triggering tax increment.

Mandated that entities receiving more tax increment revenue than anticipated must use the excess funds to pay off debt.

Imposed new accounting and reporting obligations on the program manager and granted rulemaking authority to the State Tax Commission.

Established a July 1, 2026 effective date for new reporting and disclosure procedures, including the requirement to notify the program manager.

Transferred existing personal property assets and unexpended revenue from the Multicounty Appraisal Trust to the new program manager.

Created the 'Statewide Tax Administration and Technology Solutions' (STATS) program to manage property tax systems, hire appraisers, and maintain a statewide database, transferring assets and revenue from the Multicounty Appraisal Trust.

Revised the calculation of 'certified tax rate' to exclude certain new growth values and adjusted how sales tax revenue offsets property tax rates for specific districts.

Added mandatory public meetings and detailed disclosure reports for TIF entities before they can use tax increment funds, effective July 1, 2026.

Updated definitions of 'Tax increment' and 'Program manager' to reflect the new centralized administration structure.

Required TIF entities receiving more revenue than projected to immediately return excess funds to taxing entities and defease any bonds issued with that revenue.

Extended the reporting deadline for TIF entities to submit initial project plans and budgets to January 1, 2027.

Replaced the 'Multicounty Appraisal Trust' with a new 'Statewide Tax Administration and Technology Solutions program' and a 'program manager' to oversee property tax administration.

Added new requirements for entities using tax increment financing to conduct public meetings and submit information to the program manager before receiving funds.

Established new accounting and reporting obligations for the program manager, including annual reports to the Legislature and the State Tax Commission.

Updated definitions for 'public safety districts' and related terms to account for land that has been annexed from unincorporated county areas into incorporated cities or towns.

Modified penalty collection procedures for taxpayers who fail to file signed statements regarding personal property valuation.

Set the effective date for the new program and related changes to May 6, 2026, with retrospective operation to January 1, 2026.