AN ACT relating to taxation.

HB 666 clarifies procedural requirements for Kentucky cities and urban-county governments seeking to levy property tax rates exceeding a baseline "compensating tax rate" defined in existing law. It specifies detailed steps for public hearings - including location, timing, and required advertising in local newspapers - and mandates clear notice about tax rate impacts, including revenue comparisons and allocation plans. The bill does not change tax rates or revenue amounts but updates the process for when local governments propose increases above the threshold, including a requirement to notify residents about potential recall options. This affects all Kentucky local governments that may seek to raise property taxes beyond the current baseline. The change is a technical clarification to existing tax procedure law (KRS 132.027), not a policy shift.