HB 1005-1_ Filed 01/18/2000, 11:06
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:
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Page 1, between lines 14 and 15, begin a new paragraph and insert:
SOURCE: IC 6-1.1-4-4.5; (00)AM100506.2. -->
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
(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.".
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SOURCE: IC 6-1.1-5.5-4; (00)AM100506.4. -->
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. -->
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. -->
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.".
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"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
(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
assessment training fund established under
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.
AM100506/DI 73 2000