FISCAL NOTE

House Bill 126 as substituted and reported by the Committee on Ways and Means Education provides that certain entities that are statutorily exempt from payment or collection of various taxes, but who have not obtained a certificate of exemption as provided by current law since January 1, 2016, shall no longer be entitled to the exemption, beginning January 1, 2022. This bill further provides that, beginning January 1, 2023 and annually thereafter, any such statutorily-exempt entity that has not renewed its certificate of exemption during the previous five years shall no longer be entitled to the exemption. This bill will not directly affect state or local funding.