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Bill Detail: HB20-1421

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Title Delinquent Interest Payments Property Tax
Status Governor Signed (06/14/2020)
Bill Subjects
  • Fiscal Policy & Taxes
  • Local Government
House Sponsors L. Saine (R)
D. Roberts (D)
Senate Sponsors J. Sonnenberg (R)
K. Donovan (D)
House Committee Finance
Senate Committee Finance
Date Introduced 06/08/2020
Description

The bill allows, upon approval of the county treasurer, a board of
county commissioners or a city council of a city and county, in a county
or city and county that collected 90% or less of the total amount of
property taxes between January 1, 2020, and June 1, 2020, than it
collected between January 1, 2019, and June 1, 2019, to temporarily
reduce, waive, or suspend delinquent interest payments for property tax

payments.
The bill also requires a board of county commissioners or city
council to notify local taxing jurisdictions of the intent to reduce, waive,
or suspend delinquent property tax interest payments. If a local taxing
jurisdiction would be unable to meet its bond payment obligations after
the proposed reduction, waiver, or suspension, the local taxing
jurisdiction shall notify the board of county commissioners or city
council.
Finally, the bill requires a treasurer to advance property tax
payments to local taxing jurisdictions to assist the local taxing
jurisdictions in the payment of bonded indebtedness payments and
monthly operation costs, if the local taxing jurisdiction demonstrates a
financial need due to the waiver or reduction of property tax interest rates
during the time those rates are reduced or waived.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (07/28/2020) (most recent)  
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