HB 1845-4_ Filed 02/24/2005, 11:16 Bauer


Text Box


    PREVAILED      Roll Call No. _______
    FAILED        Ayes _______
    WITHDRAWN        Noes _______
    RULED OUT OF ORDER


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HOUSE MOTION ____

]

MR. SPEAKER:

    I move that House Bill 1845 be amended to read as follows:

SOURCE: Page 13, line 18; (05)MO184507.13. -->     Page 13, between lines 18 and 19, begin a new paragraph and insert:
SOURCE: IC 6-1.1-21-2.3; (05)MO184507.11. -->     "SECTION 11. IC 6-1.1-21-2.3, AS ADDED BY HB 1001-2005, SECTION 58, IS AMENDED TO READ TO READ AS FOLLOWS [EFFECTIVE JANUARY 1, 2006]: Sec. 2.3. (a) As used in this section, "distribution limit" means for credits granted against tax liability first due and payable in:
        (1) 2006, 2010, two billion ninety-nine million one hundred nine thousand one hundred ninety-seven dollars ($2,099,109, 197); and
        (2) 2007, 2011, two billion one hundred thirty-six million four hundred nine thousand one hundred ninety-seven dollars ($2,136,409, 197).
    (b) Based on the department's final determinations of distribution under sections 4 and 9 of this chapter, the department shall annually certify the following to the department of local government finance for each county:
        (1) The final determination of the amount of property tax replacement credits granted under section 5 of this chapter in the immediately preceding year and the final determination of the distribution made under this chapter to replace revenue lost from the granting of property tax replacement credits.
        (2) The final determination of the amount of homestead credits granted under IC 6-1.1-20.9 in the immediately preceding year and the final determination of the distribution made under this chapter to replace revenue lost from the granting of homestead credits.
        (3) The amount of additional credits granted under section 5 of this chapter to taxpayers in the taxing units with at least one (1) economic development district that meets the requirements of section 5.5 of this chapter in the immediately preceding year and the final determination of the distribution made under this chapter to replace revenue lost from the granting of additional credits.
The certification for a county must be made before the department of local government finance certifies the budgets, tax rates, and tax levies for the county for the ensuing year under IC 6-1.1-17-16. The certification must be based on the best data available to the department at the time the certification is made and be in the form prescribed by the department of local government finance.
    (c) Using the information certified under subsection (b) and any other data available to the department of local government finance, the department of local government finance shall calculate the maximum amount of property tax replacement credits, homestead credits, and additional credits that may be granted in each county in the ensuing year. The maximum amount of property tax credits, homestead credits, and additional credits that may be granted in a county in the ensuing year may not exceed the distribution limit for the ensuing year multiplied by a fraction. The numerator of the fraction is the total number of credits described in subsection (b) that were granted in the county in the immediately preceding year. The denominator of the fraction is the total number of credits described in subsection (b) that were granted in all counties in the immediately preceding year.
    (d) If the department of local government finance determines that, without an adjustment under this section, the total amount of property tax replacement credits, homestead credits, and additional credits for which taxpayers in the county would be eligible in the ensuing year will exceed the maximum amount determined for the county under subsection (c), the department of local government finance shall reduce the property tax replacement credit percentages and the additional credit percentages that would otherwise apply in the county. The department of local government finance shall proportionately reduce the percentages used to compute the:
        (1) property replacement credits granted under section 5(a) of this chapter and described in section 2(l)(2) of this chapter;
        (2) property replacement credits granted under section 5(a) of this chapter and described in section 2(l)(3) of this chapter; and
        (3) additional credits granted under section 5(d) of this chapter;
in the county in the ensuing year so that the total amount of all property tax replacement credits, homestead credits, and additional credits granted in the county is not likely to exceed the maximum amount determined for the county under subsection (c). If a reduction is required, the percentages described in section 2(l)(2) and 2(l)(3) of this chapter must be reduced by the same reduction percentage in all taxing units in the county. If the department determines that reducing only the

credits described in subdivisions (1) through (3) will not result in a total of credits granted in the county that is less than the maximum amount determined for the county under subsection (c), the department shall reduce the amount of property tax credits described in section 2(l)(1) of this chapter as needed to eliminate the excess.
    (e) Not later than the date that the department of local government finance certifies budget, tax rates, and tax levies for the political subdivisions in a county under IC 6-1.1-17-16, the department of local government finance shall certify to the county's county auditor and each political subdivision in the county the:
        (1) property tax replacement credit percentages and additional credit percentages that apply to each taxing district in the county in the ensuing year; and
        (2) estimated distribution that each political subdivision in the county is estimated to receive to replace revenue lost from the granting of property tax replacement credits, homestead credits, and additional credits in the ensuing year.
    (f) County auditors and the department shall use the property tax replacement credit percentages and the additional credit percentages certified under subsection (e)(1) in computing property tax replacement credits and additional credits in the ensuing calendar year.
     (g) Before January 1, 2010:
        (1) the department of local government finance shall certify credits; and
        (2) sections 3, 4, and 9 of this chapter shall be applied;
without considering the distribution limit established by this section.
".
    Renumber all SECTIONS consecutively.
    (Reference is to HB 1845 as printed February 22, 2005.)

________________________________________

Representative Bauer


MO184507/DI 51     2005