SB 1-3_ Filed 11/24/2003, 09:44 Long

SENATE MOTION


MR. PRESIDENT:

    I move
that Senate Bill 1 be amended to read as follows:

SOURCE: Page 19, line 4; (04)MO000102.19. -->     Page 19, between lines 4 and 5, begin a new paragraph and insert:
SOURCE: IC 6-1.1-12-43; (04)MO000102.13. -->     "SECTION 13. IC 6-1.1-12-43 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 43. (a) As used in this section, "dwelling" has the meaning set forth in IC 6-1.1-20.9-1.
    (b) Each year a person who is entitled to receive the homestead credit provided under IC 6-1.1-20.9 for property taxes payable in the following year on real property containing a dwelling that was initially erected at least forty (40) years before an assessment date to which the deduction applies is entitled to a historic property deduction from the assessed value of the real property that qualifies for the homestead credit. The auditor of the county shall record and make the deduction for the person qualifying for the deduction.
    (c) The amount of the deduction is:
        (1) four thousand dollars ($4,000) if the dwelling
was initially erected at least forty (40) years before an assessment date and less than seventy (70) years before the assessment date to which the deduction applies;
        (2) eight thousand dollars ($8,000) if the dwelling was initially erected at least seventy (70) years before an assessment date and not more than one hundred (100) years before the assessment date to which the deduction applies; and
        (3) twelve thousand dollars ($12,000) if the dwelling on the real property was initially erected more than one hundred (100) years before an assessment date to which the deduction applies.
    (d) A person who sells real property to another person under a contract that provides that the contract buyer is to pay the

property taxes on the real property may not claim the deduction provided under this section with respect to that real property.".

SOURCE: Page 103, line 35; (04)MO000102.103. -->     Page 103, between lines 35 and 36, begin a new paragraph and insert:
SOURCE: ; (04)MO000102.73. -->     "SECTION 73. [EFFECTIVE JULY 1, 2004] IC 6-1.1-12-43, as added by this act, applies to property taxes first due and payable after December 31, 2004.".
    Renumber all SECTIONS consecutively.
    (Reference is to SB 1 as printed November 21, 2003.)

________________________________________

Senator LONG


MO000102/DI 103
2004