SB-002
DebateDesignating the Property Tax Assessment Methodology Act
Type: Bill
Fiscal Impact: Significant
Introduced: Apr 13, 2026
Summary
An Act designating the applicable statutory provisions of the Kentucky Revised Statutes with respect to property tax assessment methodology; prescribing procedures, standards, and responsibilities; authorising the promulgation of administrative regulations; and providing for related matters.
Full Text
WHEREAS fiscal prudence and governmental efficiency necessitate the revision of property tax assessment methodology;
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE COMMONWEALTH OF KENTUCKY:
SECTION 1. Legislative Findings and Declarations of Policy.
The General Assembly hereby finds that the property tax assessment methodology in the Commonwealth requires responsive and efficient statutory governance. It is the declared policy of this Commonwealth to ensure that the regulatory framework governing said property tax assessment methodology is modern, equitable, and aligned with current best practices.
SECTION 2. Reporting Requirements.
In the event any provision of this Act, or the application thereof to any person or set of circumstances, is held to be invalid, such invalidity shall not affect other provisions or applications of this Act which can be given effect without the invalid provision or application, and to this end the provisions of this Act are declared to be severable.
The Agency is hereby authorised and directed to promulgate administrative regulations in accordance with KRS Chapter 13A to implement the provisions of this Act, including but not limited to regulations establishing application procedures, eligibility criteria, and reporting requirements.
SECTION 3. Prohibition on Preemption.
The Agency is hereby authorised and directed to promulgate administrative regulations in accordance with KRS Chapter 13A to implement the provisions of this Act, including but not limited to regulations establishing application procedures, eligibility criteria, and reporting requirements.
Any person who knowingly violates the provisions of this Act, or any administrative regulation promulgated thereunder, shall be subject to a civil penalty not to exceed Five Thousand Dollars ($5,000) per violation per day. The Agency shall have authority to assess such penalties following a duly noticed administrative hearing conducted in conformance with KRS Chapter 13B.
SECTION 4. Intergovernmental Cooperation.
Nothing in this Act shall be construed to limit, abridge, or otherwise affect the rights, privileges, or immunities of any person protected under the Constitution of the United States or the Constitution of the Commonwealth of Kentucky.
All state agencies and political subdivisions receiving funds appropriated pursuant to this Act are required to maintain adequate financial records, consistent with generally accepted governmental accounting standards, and shall provide access to such records upon written request by the Auditor of Public Accounts.
SECTION 5. Definitions.
"Qualified Entity" means any person or organisation that meets the eligibility criteria established pursuant to Section 3 of this Act.
"Secretary" means the Secretary of the relevant Cabinet as designated in the Executive Branch reorganisation order.
"Permit" means any licence, certificate, registration, approval, or other authorisation issued pursuant to this Act or the administrative regulations promulgated thereunder.
"Regulated Activity" means any commercial, industrial, agricultural, or professional activity subject to oversight under the provisions of this Act.
SECTION 6. Effective Date.
This Act shall take effect ninety (90) days following its enactment into law.
SECTION 7. Severability.
In the event any provision of this Act, or the application thereof to any person or set of circumstances, is held to be invalid, such invalidity shall not affect other provisions or applications of this Act which can be given effect without the invalid provision or application, and to this end the provisions of this Act are declared to be severable.
Legislative Proceedings
9 entriesI am proud to present to this body SB-002, which I commend to the favourable attention of my colleagues.
I second the motion to introduce SB-002 and concur that it warrants the serious attention of this chamber.
The Chair announces that SB-002 has been referred from initial introduction to open debate in accordance with the standing rules of this chamber.
My constituents have spoken clearly on this matter. SB-002 reflects the will of the people and this chamber should act accordingly, without delay.
I rise in strong support of SB-002. Having reviewed the bill's provisions in detail, I am persuaded that its enactment represents sound fiscal and legislative policy, and I urge my colleagues to vote affirmatively.
The distinguished member who introduced this legislation is to be commended. SB-002 addresses long-standing deficiencies in our statutory framework and will materially benefit the people of this Commonwealth.
The legal section of this chamber has identified potential constitutional infirmities in SB-002. I urge my colleagues to defer final action pending a full legal analysis.
After careful consideration of expert testimony and review of comparable legislation in sister states, the committee reports SB-002 favourably and without amendment.
Before we proceed to the vote, I urge all members to reflect carefully on the implications of SB-002 for our constituents. The record speaks for itself.
Bill Progress
- Draft
- Debate
- Committee
- Floor Vote
- Other Chamber
- Governor
- Enacted