FIFTY-SEVENTH LEGISLATURESB 186/aa

FIRST REGULAR SESSION, 2025

February 20, 2025

Mr. President:

    Your TAX, BUSINESS AND TRANSPORTATION COMMITTEE, to whom has been referred

SENATE BILL 186

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

    1. On page 4, line 7, after the semicolon, insert "or".

    2. On page 4, line 8, strike "per-unit".

    3. On page 4, lines 10 and 11, strike "divided by the number of units in the multifamily housing,".

    4. On page 5, between lines 1 and 2, insert:

         "C. Within ninety days of the date the applicable local government issues the final certificate of occupancy for the multifamily housing, the owner of multifamily housing valued pursuant to this section shall file with the county assessor an affidavit in a form approved by the department and signed by the owner of the multifamily housing. The affidavit shall include the following information, which shall only be used for analytical and statistical purposes in the application of appraisal methods:

             (1) the complete name of the owner;

             (2) the legal description of the real property on which the multifamily housing is located; and

             (3) the full cost of development of the property, including the cost of the land.

       D. Upon receipt of the affidavit, the county assessor shall place the date of receipt on the original affidavit and on a copy of the affidavit. The county assessor shall retain the original affidavit as a confidential record and as proof of compliance and shall return the copy marked with the date of receipt to the person presenting the affidavit. The county assessor shall index the affidavit in a manner that permits cross-referencing to other records in the assessor's office pertaining to the specific property described in the affidavit. The affidavit and its contents shall not be part of the valuation record of the county assessor.".

    5. Reletter the succeeding subsection accordingly.,

and thence referred to the FINANCE COMMITTEE.

                               Respectfully submitted,

                               ___________________________________

                               Senator Carrie Hamblen, Chair

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 9 For 1 Against

Yes:      Berghmans, Hamblen, Jaramillo, O'Malley, Paul, Ramos, Sanchez, Sharer, Wirth

No:       Figueroa

Excused: None

Absent:   None

SB0186CT1.wpd                                              .230303.1

.231084.1