STATEMENT TO

[First Reprint]

SENATE, No. 2969

with Assembly Floor Amendments

(Proposed by Assemblywoman PINTOR MARIN)

ADOPTED: MARCH 18, 2024

      The floor amendments remove a provision which factored the current prime interest rate into the bill’s increase in county property taxing authority.  The amendments instead provide that a county preparing its budget under either of the local budget cap laws may add to its adjusted tax levy the greater of the banked property taxing authority under the two local budget cap laws.