SB 1-7_ Filed 11/24/2003, 10:19 Kenley
Adopted 11/24/2003

SENATE MOTION


MR. PRESIDENT:

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

SOURCE: Page 15, line 33; (04)MO000140.15. -->     Page 15, line 33, delete "subsections (b) and" and insert " subsection".
    Page 15, line 35, after "more" insert " and that has more than four (4) rental units".
    Page 16, between lines 7 and 8, begin a new paragraph and insert:
    " (b) The gross rent multiplier method is the preferred method of valuing:
        (1) real property that has at least one (1) and not more than four (4) rental units; and
        (2) mobile homes assessed under IC 6-1.1-7.
".
    Page 16, line 8, delete "(b)" and insert " (c)".
    Page 16, delete lines 15 through 28, begin a new paragraph and insert:"
     (d) To carry out this section, the department of local government finance may adopt rules for assessors to use in gathering and processing information for the application of the income capitalization method and the gross rent multiplier method. A taxpayer must verify under penalties for perjury any information provided to the assessor for use in the application of either method.".
    Page 17, delete lines 36 through 42.
    Page 18, delete lines 1 through 34.
    Page 102, delete line 33.
    Page 102, line 34, delete "(3)" and insert " (2)".
    Page 102, line 35, delete "(4)" and insert " (3)".
    Page 102, line 36, delete "(5)" and insert " (4)".
    Renumber all SECTIONS consecutively.
    (Reference is to SB 1 as printed November 21, 2003.)

________________________________________

Senator KENLEY


MO000140/DI 52
2004