Requiring the director of property valuation to conduct a review or audit of the appraisal and apportionment of the valuation of the property of any public utility whose total appraised value of property of such public utility in this state decreased more than 5%.

HB 2474 requires Kansas' director of property valuation to conduct a review or audit of public utilities' property valuations when a utility's total appraised value in the state decreases by more than 5% compared to the prior tax year. It directly affects public utilities experiencing significant drops in their state property valuations. The bill mandates that the director complete the review and post findings online for public access, replacing the previous requirement. This amendment to K.S.A. 79-5a02 updates the process for addressing substantial valuation changes in utility property assessments.