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

HB 106 creates a joint interim committee to study how to replace revenue lost from abolishing ad valorem taxes (property-based taxes) with local sales and use taxes. The committee, composed of five House members appointed by the Speaker and five Senators appointed by the Lieutenant Governor, must determine required sales tax rates, assess local governments' authority to impose sales taxes, and address revenue disparities. The bill also repeals tax code provisions allowing ad valorem taxes and prohibits their future imposition. The committee must submit a report by December 1, 2026, and expires January 1, 2027.