To insert an additional proposition as follows:
“To direct the Policy & Resources Committee to investigate the financial yield and legal framework required to implement an Underutilised Property Levy (UPL) applying to underutilised residential and commercial property, based on:
(a) residential property being treated as underutilised where it is used as a secondary or holiday home for fewer than 183 days per calendar year, or remains substantially vacant and unused for more than 12 months, subject to defined exemptions;
(b)commercial property being treated as underutilised where it remains vacant, unleased or non-operational for more than 12 months, subject to defined exemptions;
and
(c) liability being calculated by applying a policy-determined multiplier to the property's existing Tax on Real Property (TRP) assessment;
with the detailed framework, including exemptions, ant-avoidance safeguards, administrative and enforcement arrangements, and transitional provisions, to be
developed in accordance with the details outlined in the Explanatory note; and to lay a comprehensive report before the States of Deliberation no later than June 2027 detailing the financial yield, legislative framework and enforcement mechanisms required for its operation.”