SB 689

This bill requires the Department of Revenue, upon application by a taxation

district, to "charge back," to the taxing jurisdictions within the taxation district,

property taxes that the taxation district rescinded or refunded to taxpayers, so that

each taxing jurisdiction pays back its share of the taxes to the taxation district.

Under the bill, DOR also must determine whether the total value of all taxable

property (equalized value) in the taxation district was affected by the rescinded or

refunded property taxes and, if the equalized value was affected, adjust the

equalized value. Under current law, DOR orders a charge-back or adjustment only

after determining that the taxation district's equalized value was affected, and then

DOR orders either, but not both, of the options.

Under the bill, taxes levied on property within a tax incremental district are not

eligible for a charge-back or adjustment.

The bill applies retroactively to an application submitted by a taxation district

to DOR before the effective date of the bill if DOR has not issued a final

determination, if the final determination is still subject to judicial review, or if DOR

has not certified the amount of the charge-back or adjustment to the taxation

district.