HB 1005-1_ Filed 01/18/2000, 11:06
Adopted 1/18/2000


Text Box

Adopted Rejected


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COMMITTEE REPORT


                                                        YES:

23

                                                        NO:
2

MR. SPEAKER:
    Your Committee on       Ways and Means     , to which was referred       House Bill 1005     , has had the same under consideration and begs leave to report the same back to the House with the recommendation that said bill be amended as follows:

SOURCE: Page 1, line 14; (00)AM100506.1. -->     Page 1, between lines 14 and 15, begin a new paragraph and insert:
SOURCE: IC 6-1.1-4-4.5; (00)AM100506.2. -->     "SECTION 2. IC 6-1.1-4-4.5 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 4.5. (a) The state board of tax commissioners shall adopt rules establishing a system for annually adjusting the assessed value of real property to account for changes in value in those years since a general reassessment of property last took effect.
    (b) The system must be applied to adjust assessed values beginning with the 2004 assessment date and each year thereafter that is not a year in which a reassessment becomes effective.
    (c) The system must have the following characteristics:
        (1) Promote uniform and equal assessment of real property

within and across classifications.
        (2) Apply all objectively verifiable factors used in mass valuation techniques that are reasonably expected to affect the value of real property in Indiana.
        (3) Prescribe as many adjustment percentages and whatever categories of percentages the board finds necessary to achieve objectively verifiable updated just valuations of real property. An adjustment percentage for a particular classification may be positive or negative.
        (4) Prescribe procedures, including computer software programs, that permit the application of the adjustment percentages in an efficient manner by assessing officials.
".

SOURCE: Page 2, line 24; (00)AM100506.2. -->     Page 2, between lines 24 and 25, begin a new paragraph and insert:
SOURCE: IC 6-1.1-5.5-4; (00)AM100506.4. -->     "SECTION 4. IC 6-1.1-5.5-4 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2000]: Sec. 4. A person filing a sales disclosure form under this chapter shall pay a fee of five dollars ($5) to the county auditor. Eighty percent (80%) of the revenue shall be deposited in the county general fund. sales disclosure fund established under section 4.5 of this chapter. Twenty percent (20%) of the revenue shall be transferred to the state treasurer for deposit in the state general fund. assessment training fund established under section 4.7 of this chapter.
SOURCE: IC 6-1.1-5.5-4.5; (00)AM100506.5. -->     SECTION 5. IC 6-1.1-5.5-4.5 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2000]: Sec. 4.5. The county treasurer of each county shall establish a sales disclosure fund. The treasurer shall deposit into the fund the money received under section 4 of this chapter. Money in the fund may be expended only for the administration of this chapter and the verification of the information contained on a sales disclosure form.
SOURCE: IC 6-1.1-5.5-4.7; (00)AM100506.6. -->     SECTION 6. IC 6-1.1-5.5-4.7 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2000]: Sec. 4.7. (a) The assessment training fund is established for the purpose of receiving fees deposited under section 4 of this chapter for the training of assessment officials and employees of the state board of tax commissioners. The fund shall be administered by the treasurer of state.
    (b) The expenses of administering the fund shall be paid from

money in the fund.
    (c) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public money may be invested. Interest that accrues from these investments shall be deposited into the fund.
    (d) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
".

SOURCE: Page 3, line 19; (00)AM100506.3. -->     Page 3, between lines 19 and 20, begin a new paragraph and insert:
SOURCE: ; (00)AM100506.8. -->     "SECTION 8. [EFFECTIVE JANUARY 1, 2000] (a) An assessing official is not required to issue a notice of change to a taxpayer's assessment (a state board of tax commissioner's Form 11) as a result of changing the definition of assessed value from one-third (1/3) of the true tax value of property to one hundred percent (100%) of the true tax value under P.L.6-1997. A taxpayer may not appeal an assessment on the basis that the assessed value of the property has increased as a result of the change in the definition of assessed value under P.L.6-1997, or that no Form 11 notice was issued.
    (b) This SECTION expires December 31, 2002.

SOURCE: ; (00)AM100506.9. -->     SECTION 9. [EFFECTIVE UPON PASSAGE] (a) The treasurer of state shall transfer five hundred thousand dollars ($500,000) from the state's share of the fees collected under IC 6-1.1-5.5 to the assessment training fund established under IC 6-1.1-5.5-4.7 , as added by this act.
    (b) This SECTION expires June 30, 2001.
".
    Renumber all SECTIONS consecutively.
    (Reference is to HB 1005 as introduced.)

and when so amended that said bill do pass.

__________________________________

Representative Bauer


AM100506/DI 73    2000