SB 245: create the homeowner property tax reduction fund, and to transfer moneys to the homeowner property tax reduction fund.
SB 245 status: Enacted — Signed by the Governor on 2026-03-30 S.J. 548 (updated Mar 30, 2026).
What this bill does
Overall score
Bill summary
OfficialLawmakers are creating a special fund to help lower property taxes for homeowners. They are moving money into this fund, and the plan is currently being debated in the Senate.
Key analysis
Impact analysis
Environment
Benefits
- none identified
Risks
- none identified
Economy
Benefits
- direct reduction in homeowner tax liability
- potential increase in disposable income
Risks
- budgetary trade-offs required for transfer
- potential for long-term fiscal volatility
Society
Benefits
- mitigates property tax burden for homeowners
- promotes housing stability
Risks
- potential for inflationary pressure on local housing markets
How trustworthy & consequential it is
Source
OpenStates
Confidence
lowlow
Analysis status
OpenStates summary
LegiScan returned a PDF-only document. PDF extraction is not enabled in this build, so the pipeline used a safer fallback.
Full bill text was not reviewed; specific fiscal mechanisms remain opaque.
Where it stands
Introduced
CompleteCommittee
CompleteFloor
CompleteGovernor
CompleteEnacted
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