2026 session. Prime sponsor: Walter Spilsbury (R). Status: Sent to interim study.
Starting July 1, 2027, the bill would set the statewide education property tax at $5 per $1,000 of valuation instead of the current $363,000,000 revenue target. The tax would be paid to the Department of Revenue Administration and sent on to municipalities for their school districts. It would create credits against the tax for primary residences, households without children in public school, and people over 65. It would redefine the cost of an adequate education as an "excellence in education grant" and repeal extraordinary need grants.
The House Ways and Means Committee voted 16-1 on February 18, 2026 to refer the bill for interim study, and the House agreed by voice vote on March 5, 2026. After further work sessions, the committee's interim study report of October 7, 2026 found it not recommended for future legislation, by a vote of 13-1.