Standardizing notification provisions relating to local tax rate changes and shared taxes administered by the department.

Senate Bill 5315 standardizes notification requirements for local tax rate changes and shared taxes administered by the state Department of Revenue. It requires local governments to provide written notice to the Department, including specific details for changes resulting from annexations, at least 75 days before a local sales and use tax change takes effect. The bill also mandates that public facilities districts notify the Department in writing at least 75 days before bonds related to their sales and use taxes are retired. Additionally, it removes outdated fiscal biennium provisions for public facilities districts. These changes primarily affect local government entities and public facilities districts by clarifying and updating their responsibilities for communicating tax changes to the state.