Text Box

Adopted Rejected


[

]



COMMITTEE REPORT


                                                        YES:

27

                                                        NO:
0

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 8; (04)AM100503.1. -->     Page 1, line 8, delete "has the meaning set forth in" and insert " means:
        (1) a financial institution (as defined in IC 28-1-1-3(1)); or
        (2) any other entity;
that enters into a residential real property financing or refinancing transaction with a customer.
".
    Page 1, delete line 9.
    Page 1, line 11, delete "June 30," and insert " December 31,".
    Page 1, line 15, after "(b)." insert " The department shall make the form available to financial institutions, county assessors, county auditors, and county treasurers in hard copy and electronic form. County assessors, county auditors, and county treasurers shall make the form available to the general public.".
    Page 2, line 9, delete "on" and insert " in".
    Page 2, line 9, delete "of paper".
    Page 2, line 15, delete "paper" and insert " print".
    Page 2, line 25, delete "recovered under IC 28-11-4;" and insert " enforced by the state agency that has administrative jurisdiction over the financial institution in the same manner that the agency enforces the payment of fees or other penalties payable to the agency;".
    Page 2, line 27, delete "department of financial institutions" and insert " state agency that has administrative jurisdiction over a financial institution".
    Page 2, line 28, after "examine" insert " the".
    Page 2, line 28, delete "institutions" and insert " institution".
    Page 3, delete lines 28 through 42, begin a new paragraph and insert:
    " (d) Before July 1, 2004, the department of local government finance shall designate five (5) counties to participate in a pilot program to implement the requirements of subsection (e). The department shall immediately notify the county treasurer, county auditor, and county assessor in writing of the designation under this subsection. The requirements of subsection (e) apply:
        (1) only in the counties designated under this subsection for taxes first due and payable after December 31, 2004; and
        (2) in all counties for taxes first due and payable after December 31, 2005.
    (e) Subject to subsection (d), regardless of whether a county treasurer transmits a statement of current and delinquent taxes and special assessments to a person liable for the taxes under subsection (a)(1) or to a mortgagee under subsection (a)(2), the county treasurer shall mail the following information to the last known address of each person liable for the property taxes or special assessments or to the last known address of the most recent owner shown in the transfer book. The county treasurer shall mail the information not later than the date the county treasurer transmits a statement for the property under subsection (a)(1) or (a)(2). The county treasurer, county auditor, and county assessor shall cooperate to generate the information to be included on the form. The information that must be provided is the following:
        (1) A breakdown showing the total property tax and special assessment liability and the amount of the taxpayer's liability that will be distributed to each taxing unit in the county.
        (2) A comparison showing any change in the assessed valuation for the property as compared to the previous year.
        (3) A comparison showing any change in the property tax and special assessment liability for the property as compared to the previous year. The information required under this subdivision must identify the amount of the taxpayer's liability distributable to each taxing unit in which the property is located in the current year and in the previous year.
".
    Page 4, delete lines 1 through 6.
    Page 4, between lines 19 and 20, begin a new line block indented and insert:
        " (5) A checklist that shows:
            (A) the homestead credit and all property tax deductions; and
            (B) whether the homestead credit and each property tax deduction applies in the current statement for the property transmitted under subsection (a)(1) or (a)(2).
".
    Page 4, line 20, delete "(e)" and insert " (f)".
    Page 4, line 20, delete "(d)" and insert " (e)".
    Page 4, line 23, delete "(f)" and insert " (g)".
    Page 4, line 23, delete "treasurer of a county".
    Page 4, line 25, delete "(d)" and insert " (e)".
    (Reference is to HB 1005 as introduced.)

and when so amended that said bill do pass.

__________________________________

Representative Crawford


AM100503/DI 92    2004