SB 496-2_ Filed 02/14/2005, 10:18 Mrvan

SENATE MOTION


MADAM PRESIDENT:

    I move
that Senate Bill 496 be amended to read as follows:

SOURCE: Page 38, line 13; (05)MO049601.38. -->     Page 38, delete line 13, begin a new line blocked left and insert:
"UPON PASSAGE]:"
    Page 38, line 14, after "20.6." insert " Credit for Excessive".
    Page 38, line 14, delete "Tax Credits" and insert " Taxes".
    Page 38, delete lines 16 through 42, begin a new line block indented and insert:
        
" (1) "eligible property" means:
            (A) a homestead; and
            (B) any other classification of property designated by the county fiscal body under section 2 of this chapter;
        (2) "homestead" has the meaning set forth in IC 6-1.1-20.9-1; and
        (3) "property tax liability" means liability for the tax imposed on property under this article determined after application of all credits and deductions under this article, except the credit under this chapter, but does not include any interest or penalty imposed under this article.
    Sec. 2. A county fiscal body that proposes to allow the credit under this chapter shall adopt an ordinance to identify eligible property to which the credit applies as:
        (1) only homesteads; or
        (2) homesteads and one (1) or more other classifications of property.
    Sec. 3. (a) A county fiscal body may adopt an ordinance to authorize the application of a credit under this chapter for one (1) or more calendar years to eligible property in the county.
    (b) A county fiscal body adopting an ordinance under subsection (a) must adopt the ordinance under subsection (a) before July 1 of a calendar year to authorize a credit under this chapter for property taxes first due and payable in the immediately succeeding calendar year.
    Sec. 4. If a credit under this chapter is authorized under section 3 of this chapter for property taxes first due and payable in a calendar year:
        (1) a person is entitled to a credit against the person's property tax liability for property taxes first due and payable in that calendar year attributable to the person's
eligible property located in the county; and
        (2) the amount of the credit is the amount by which the person's property tax liability attributable to the person's eligible property for property taxes first due and payable in that calendar year exceeds two percent (2%) of the gross assessed value that is the basis for determination of property taxes on the eligible property for property taxes first due and payable in that calendar year.
    Sec. 5. A person is not required to file an application for a credit under this chapter. The county auditor shall:
        (1) identify eligible property in the county; and
        (2) apply a credit under this chapter to property tax liability on the identified eligible property.
".
    Delete page 39.
    Page 40, delete lines 1 through 18.
    Page 70, line 1, delete "2004." and insert " 2005.".
    (Reference is to SB 496 as printed February 11, 2005.)

________________________________________

Senator MRVAN


MO049601/DI 52
2005