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LC 1197

Generally revise property tax and school funding laws

2025 Regular Session

LC 1197 would overhaul property tax rules and school funding formulas, impacting homeowners, local governments, and school districts; the draft died in process.

(LC) Draft Died in Process
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Bill Summary · LC 1197

Summary: LC 1197 — Generally revise property tax and school funding laws

Overview

LC 1197 is a Legislative Counsel (LC) draft introduced on November 11, 2024, titled “Generally revise property tax and school funding laws.” The bill, as an LC draft, did not have public text attached in the information provided. The status indicates it moved through drafting and procedural stages but did not advance to enactment, with the latest status stating the draft died in process as of May 24, 2025.

Purpose and Intent

  • Based on the title, the bill aims to revise and reform laws related to property taxation and the funding mechanism for public schools. The precise objectives, such as simplification of tax assessments, changes to tax rates or exemptions, or alterations to school funding formulas, are not specified in the available information.

Key Provisions

  • Public text or a detailed provision list is not provided here. The exact changes LC 1197 would implement remain unknown without the bill’s full language.
  • Possible subject areas (hypothetical, not confirmed in the provided summary):
    • Property tax assessment methodologies and timelines
    • Property tax exemptions, credits, or relief measures (e.g., homestead exemptions, senior/ disabled exemptions)
    • Tax rate setting, millage rate adjustments, or caps
    • School funding formulas, equalization mechanisms, or funding distributions to districts
    • Revisions to revenue allocation between state and local government, or changes to local fiscal autonomy
    • Compliance, reporting, and oversight provisions related to property tax and education finance

Note: The above areas are common themes in bills titled to “generally revise property tax and school funding laws,” but the exact provisions for LC 1197 are not available in the provided information.

Who Would Be Affected

  • Property owners and taxpayers within local jurisdictions
  • Local governments (counties, municipalities) administering property taxes
  • School districts and state education financing authorities
  • Tax assessors, school finance officials, and policymakers responsible for budget planning and compliance

Procedural and Timeline Aspects

  • Introduced: November 11, 2024
  • Drafter Assigned: November 11, 2024
  • On Hold: December 11, 2024
  • Draft Died in Process: May 24, 2025
  • Status: (LC) Draft; the bill did not advance to enactment in its current form and is recorded as having died in process.

Potential Impact and Considerations

  • If revived or revised, the bill could alter property tax burdens for property owners and the distribution of school funding, potentially affecting local budgets and education outcomes.
  • Any future version would need to address fiscal impact, implementation timelines, transitional provisions, and statutory compatibility with existing tax and school finance laws.

Notes

  • For a precise understanding, the full bill text and fiscal analysis would be required. The summary above reflects the information available: bill title, status, and procedural history.

Compiled from official sources — confirm details with the bill’s official record.

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