Introduced Version
HOUSE BILL No. 1627
_____
DIGEST OF INTRODUCED BILL
Citations Affected: IC 6-1.1-12.
Synopsis: Veterans' and surviving spouses' deduction. Extends
eligibility for the property tax deduction for World War I veterans and
surviving spouses to all veterans who serve in the United States armed
forces in any war or perform equally hazardous duty.
Effective: July 1, 2005.
Stevenson
January 19, 2005, read first time and referred to Committee on Ways and Means.
Introduced
First Regular Session 114th General Assembly (2005)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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HOUSE BILL No. 1627
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-1.1-12-16; (05)IN1627.1.1. -->
SECTION 1. IC 6-1.1-12-16 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2005] Sec. 16. (a) Except as
provided in section 40.5 of this chapter, a surviving spouse may have
the sum of eighteen thousand seven hundred twenty dollars ($18,720)
deducted from the assessed value of
his or her the surviving spouse's
tangible property, or real property, mobile home not assessed as real
property, or manufactured home not assessed as real property that the
surviving spouse is buying under a contract that provides that
he the
surviving spouse is to pay property taxes on the real property, mobile
home, or manufactured home, if the contract or a memorandum of the
contract is recorded in the county recorder's office, and if
(1) the deceased spouse
served in the military or naval forces of
the United States before November 12, 1918; was a veteran
described in section 17.4 of this chapter. and
(2) the deceased spouse received an honorable discharge.
(b) A surviving spouse who receives the deduction provided by this
section may not receive the deduction provided by section 13 of this
chapter. However, he or she the surviving spouse may receive any
other deduction which he or she the surviving spouse is entitled to by
law.
(c) An individual who has sold real property, a mobile home not
assessed as real property, or a manufactured home not assessed as real
property to another person under a contract that provides that the
contract buyer is to pay the property taxes on the real property, mobile
home, or manufactured home may not claim the deduction provided
under this section against that real property, mobile home, or
manufactured home.
SOURCE: IC 6-1.1-12-17.4; (05)IN1627.1.2. -->
SECTION 2. IC 6-1.1-12-17.4 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2005] Sec. 17.4.
(a) This section
applies to a veteran who:
(1) serves in the United States armed forces during any war or
performs hazardous duty that is recognized by the award of
a service or campaign medal of the United States; and
(2) receives any discharge or separation from the United
States armed forces other than a dishonorable discharge.
(a) (b) Except as provided in section 40.5 of this chapter, a
World
War I veteran
described in subsection (a) who is a resident of Indiana
is entitled to have the sum of eighteen thousand seven hundred twenty
dollars ($18,720) deducted from the assessed valuation of the real
property (including a mobile home that is assessed as real property),
mobile home that is not assessed as real property, or manufactured
home that is not assessed as real property the veteran owns or is buying
under a contract that requires the veteran to pay property taxes on the
real property, if the contract or a memorandum of the contract is
recorded in the county recorder's office, if:
(1) the real property, mobile home, or manufactured home is the
veteran's principal residence;
(2) the assessed valuation of the real property, mobile home, or
manufactured home does not exceed one hundred sixty-three
thousand dollars ($163,000); and
(3) the veteran owns the real property, mobile home, or
manufactured home for at least one (1) year before claiming the
deduction.
(b) (c) An individual may not be denied the deduction provided by
this section because the individual is absent from the individual's
principal residence while in a nursing home or hospital.
(c) (d) For purposes of this section, if real property, a mobile home,
or a manufactured home is owned by a husband and wife as tenants by
the entirety, only one (1) deduction may be allowed under this section.
However, the deduction provided in this section applies if either spouse
satisfies the requirements prescribed in subsection (a) (b).
(d) (e) An individual who has sold real property, a mobile home not
assessed as real property, or a manufactured home not assessed as real
property to another person under a contract that provides that the
contract buyer is to pay the property taxes on the real property, mobile
home, or manufactured home may not claim the deduction provided
under this section with respect to that real property, mobile home, or
manufactured home.
SOURCE: ; (05)IN1627.1.3. -->
SECTION 3. [EFFECTIVE JULY 1, 2005]
IC 6-1.1-12-16 and
IC 6-1.1-12-17.4, both as amended by this act, apply only to
property taxes first due and payable after December 31, 2006.