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A 4564

Relates to directing any moneys derived from new or increased taxes to reduce local real property taxes

2025 Regular Session Introduced by Josh Jensen

Direct revenues from any new or higher taxes to reduce local real property taxes, providing relief for property owners.

REFERRED TO WAYS AND MEANS
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WeVote Research Nonpartisan
Bill Summary · A 4564

Summary of Assembly Bill A 4564

Overview

Assembly Bill A 4564, introduced on February 4, 2025, and currently REFERRED TO WAYS AND MEANS, would direct any moneys derived from new or increased taxes toward reducing local real property taxes. The primary sponsor is Josh Jensen.

Purpose and Intent

  • The bill appears to be a tax-relief mechanism: the revenues generated by any new taxes or increases in existing taxes would be dedicated to reducing local real property taxes.
  • The aim is to channel additional state or statewide revenue toward alleviating the burden of property taxes faced by local property owners.

Key Provisions (based on title and status)

  • Directing Revenues: Any moneys derived from new or increased taxes would be allocated to reduce local real property taxes.
  • Allocation and Use: The specific methods for how funds would be applied to reduce property taxes (e.g., rate reductions, credits, or other local relief strategies) are not detailed in the provided information. The bill would likely include mechanisms for determining how funds are distributed to localities and how relief is calculated.
  • Oversight and Reporting: While not stated in the available materials, such a measure typically includes reporting requirements and oversight provisions to verify that designated funds are used for property tax relief.

Affected Parties

  • Local property taxpayers: Potentially lower property tax bills if funds are used for relief.
  • Local governments: May participate in or be affected by changes in the way property tax revenues are funded or offset.
  • State budget and tax administration: Relevant to how new or increased tax revenues are collected and allocated.

Legislative Process and Timeline

  • Introduced: February 4, 2025.
  • Status: REFERRED TO WAYS AND MEANS, indicating referral to the committee with jurisdiction over budget and finance.
  • Related/Companion Bills: S 4614 (companion bill in the Senate), as well as prior-session bills A 4666 and A 2926. These related measures may address similar themes or provide additional context.

Next Steps / What to Watch

  • Movement in the Ways and Means committee (hearings, amendments, and potential passage).
  • Availability of the full bill text to confirm specifics on eligible taxes, allocation formulas, timelines, sunset clauses, and reporting requirements.
  • Comparison with related bills (A 4666, A 2926, S 4614) to understand differing approaches or amendments.

Note: The summary reflects the information provided. Exact provisions, definitions of “new or increased taxes,” and implementation details would require the full bill text.

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

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