Introduced by Rep. Tom McMillin (R) on October 18, 2011, to require the ballot language in elections that would impose a property tax millage increase to pay for new school or local government borrowing (“bonding”), so it discloses that if property values go down, paying the debt service on the bonds might require an even higher property tax millage rate.
Referred to the House Tax Policy Committee on October 18, 2011.
Reported in the House on June 6, 2012, with the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered in the House on December 6, 2012. The substitute passed by voice vote in the House on December 6, 2012.