Relating to the abolition of ad valorem taxes and the creation of a joint interim committee on the abolition of those taxes.

HB 698 creates a joint interim committee to study the abolition of ad valorem taxes (property taxes based on property value). The committee will examine the feasibility and implications of eliminating these taxes, which directly affect property owners and local government revenue sources. This bill does not change tax law but establishes a body to research potential reforms. The committee was referred to the Ways & Means committee on March 4, 2025.