HB 496 -- Agricultural Land Values

Sponsor:  Patek

Under current law, the General Assembly is required to pass a
concurrent resolution, within a time limitation, to disapprove a
regulation of the State Tax Commission which sets the productive
capabilities of land grades on agricultural and horticultural
property for purposes of real property taxation.  This bill
requires a concurrent resolution to be passed by the General
Assembly to approve or disapprove of the regulation.  Failure of
the General Assembly to act within the time limitation will
result in disapproval of the regulation and the regulation will
be void.