A bill for an act relating to state and local government taxes, fees, financial authority, and budgets, by modifying property assessment provisions, divisions of revenue, and funding from the secure an advanced vision for education fund, establishing a program for first-time homebuyers, modifying and making appropriations, and including effective date, applicability, and retroactive applicability provisions. (Formerly SSB 3001.) Effective date: 05/18/2026, 07/01/2026, 01/01/2027. Applicability date: 01/01/2026, 07/01/2026, 01/01/2027, 07/01/2027, 07/01/2028.

The bill modifies various aspects of state and local government taxes and budgets, including changes to property assessment rules and revenue distribution. It establishes a program aimed at helping first-time homebuyers and makes adjustments to the funding from the education fund. The bill includes specific effective dates for its provisions, starting in 2026 and extending into 2028.

Supporters of the bill argue that it provides essential support for first-time homebuyers, making home ownership more accessible and affordable. They believe the modifications to property assessments and revenue distribution will lead to a more equitable tax system and better funding for education, ultimately benefiting the community.

Critics of the bill contend that the changes to property assessments could lead to increased tax burdens on certain homeowners and may disproportionately affect low-income families. They also argue that the bill's delayed effective dates create uncertainty and could hinder immediate financial planning for local governments.