Senate Substitute for HB 2396 by Committee on Assessment and Taxation - Authorizing the use of a protest petition to limit funding of a taxing jurisdiction by property tax revenues exceeding a certain amount, providing for a protest petition notice to be sent to taxpayers and modifying the content requirements of the revenue neutral rate hearing notice.

This bill allows taxpayers to protest property tax increases by submitting a petition. If enough signatures are collected, a taxing jurisdiction's property tax revenue will be limited to a certain amount, which is based on the previous year's revenue plus adjustments for inflation and new construction. The bill also changes the requirements for notices about property tax increases and public hearings.

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