This document includes Senate Committee Amendments incorporated into the bill on Fri, Jan 26, 2024 at 8:25 AM by pflowers.
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7 LONG TITLE
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9 The Revenue and Taxation Interim Committee recommended this bill.
10 Legislative Vote: 14 voting for 0 voting against 4 absent
11 General Description:
12 This bill modifies provisions related to the Multicounty Appraisal Trust (trust).
13 Highlighted Provisions:
14 This bill:
15 ▸ authorizes the use of trust funds for hiring professional appraisers to provide
16 property valuation services within rural counties; and
17 ▸ establishes qualifications for professional appraisers hired by the trust to provide
18 property valuation services.
19 Money Appropriated in this Bill:
20 None
21 Other Special Clauses:
22 None
23 Utah Code Sections Affected:
24 AMENDS:
25 59-2-1606, as last amended by Laws of Utah 2020, Chapter 447
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27 Be it enacted by the Legislature of the state of Utah:
28 Section 1. Section 59-2-1606 is amended to read:
29 59-2-1606. Statewide property tax system funding for counties -- Disbursements
30 to the Multicounty Appraisal Trust -- Use of funds.
31 (1) The funds deposited into the Multicounty Appraisal Trust in accordance with
32 Section 59-2-1602 shall be used to provide funding for a statewide property tax system that
33 will promote:
34 (a) the accurate valuation of property;
35 (b) the establishment and maintenance of uniform assessment levels among counties
36 within the state;
37 (c) efficient administration of the property tax system, including the costs of
38 assessment, collection, and distribution of property taxes; and
39 (d) the uniform filing of a signed statement a county assessor requests under Section
40 59-2-306, including implementation of a statewide electronic filing system.
41 (2) The trustee of the Multicounty Appraisal Trust shall:
42 (a) determine which projects to fund; and
43 (b) oversee the administration of a statewide property tax system.
44 (3) (a) Subject to Subsection (3)(b), the trustee of the Multicounty Appraisal Trust
45 may, in order to promote the objectives described in Subsection (1), use funds deposited into
46 the Multicounty Appraisal Trust to hire Ŝ→ [
46a appraisers ←Ŝ to provide property valuation
47 services within a county of the third, fourth, fifth, or sixth class.
48 (b) A professional appraiser hired to provide property valuation services under this
49 Subsection (3) shall:
50 (i) hold an appraiser's certificate or license from the Division of Real Estate in
51 accordance with Title 61, Chapter 2g, Real Estate Appraiser Licensing and Certification Act;
52 and
53 (ii) be approved by:
54 (A) the commission; and
55 (B) Ŝ→ [
55a counties in the state ←Ŝ .
56 Section 2. Effective date.
57 This bill takes effect on May 1, 2024.