SB 358 - This act increases the assessed valuation a county must maintain in order to move into a higher classification. The assessed valuation for counties of the first classification is increased from $600 million to $750 million. The assessed valuation for counties of the second classification is increased from $450 million to $600 million. All counties with an assessed valuation of less than $600 million will be counties of the third classification.
The required assessed valuation for each classification shall be increased by an amount equal to any percentage increase in the consumer price index.
This act is similar to a provision of perfected SB 38 (2009) and HCS/SB 386 (2009).
SUSAN HENDERSON MOORE