Section 1 [Levy amount] reduces the state general levy for commercial-industrial property only by $32.1 million per year for taxes payable in 2013 and 2014.  Sets the state general levy for both commercial-industrial and seasonal recreational property at approximately the pay 2013 level for pay 2015 and 2016.  Beginning with taxes payable in 2017, the levy for both types of property is reduced by ten percent each year, so that it is completely eliminated for taxes payable in 2026 and thereafter.

Section 2 [Apportionment and levy of state general tax] strikes language apportioning the state general levy 95 percent to commercial-industrial property and five percent to seasonal recreational property, since the levies for each property type are specified separately in Section 1.

CDF/syl