RESOLUTION No. 10
DIGEST OF INTRODUCED RESOLUTION
Article 10, Section 1 of the Indiana Constitution.
Synopsis: Assessment and taxation of business property. Allows the
general assembly to enact a law to exempt from property taxation
tangible personal property that is inventory, equipment, or other
business personal property or property being held as an investment.
This proposed amendment has not been previously agreed to by a
Effective: This proposed amendment must be agreed to by two
consecutive general assemblies and ratified by a majority of the state's
voters voting on the question to be effective.
January 15, 2002, read first time and referred to Committee on Ways and Means.
Second Regular Session 112th General Assembly (2002)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
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Conflict reconciliation: Text in a statute in this style type or
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between statutes enacted by the 2001 General Assembly.
RESOLUTION No. 10
A JOINT RESOLUTION proposing an Amendment to Article 10,
Section 1 of the Indiana Constitution concerning taxation.
Be it resolved by the General Assembly of the State of Indiana:
SOURCE: ; (02)HJ9209.1. -->
SECTION 1. The following amendment to the Constitution of the
State of Indiana is proposed and agreed to by this, the One Hundred
Twelfth General Assembly of the State of Indiana, and is referred to the
next General Assembly for reconsideration and agreement.
SOURCE: CON 10; (02)HJ9209.2. -->
SECTION 2. ARTICLE 10, SECTION 1 OF THE CONSTITUTION
OF THE STATE OF INDIANA IS AMENDED TO READ AS
FOLLOWS: Section 1. (a) The General Assembly shall provide, by
law, for a uniform and equal rate of property assessment and taxation
and shall prescribe regulations to secure a just valuation for taxation of
all property, both real and personal. The General Assembly may
exempt from property taxation any property in any of the following
(1) Property being used for municipal, educational, literary,
scientific, religious, or charitable purposes;
(2) Tangible personal property;
other than property being held for
sale in the ordinary course of a trade or business, property being
held, used or consumed in connection with the production of
income, or property being held as an investment;
(3) Intangible personal property.
(b) The General Assembly may exempt any motor vehicles, mobile
homes, airplanes, boats, trailers, or similar property, provided that an
excise tax in lieu of the property tax is substituted therefor.