HB 1120-7_ Filed 04/06/2005, 09:17 Mrvan

SENATE MOTION


MADAM PRESIDENT:

    I move
that Engrossed House Bill 1120 be amended to read as follows:

SOURCE: Page 59, line 3; (05)MO112014.59. -->     Page 59, between lines 3 and 4, begin a new paragraph and insert:
SOURCE: IC 6-1.1-20.6; (05)MO112014.24. -->     "SECTION 24. IC 6-1.1-20.6 IS ADDED TO THE INDIANA CODE AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2005]:
     Chapter 20.6. Local Homestead Credits
    Sec. 1. As used in this chapter, "revenue" includes revenue received by a political subdivision under any law or from any person.
    Sec. 2.    (a) A political subdivision may adopt an ordinance each year to provide for the use of revenue for the purpose of providing a homestead credit the following year to homesteads eligible for the state homestead credit under IC 6-1.1-20.9. An ordinance must be adopted under this section before December 31 for credits to be provided in the following year. The ordinance applies only to the immediately following year.
    (b) A homestead credit under this chapter is to be applied to the net property taxes due on the homestead after the application of all other assessed value deductions or property tax deductions and credits that apply to the amount owed under IC 6-1.1.
    (c) A homestead credit under this chapter does not reduce the basis for determining the state property tax replacement credit under IC 6-1.1-21 or the state homestead credit under IC 6-1.1-20.9.
    Sec. 3. An ordinance adopted under this chapter must provide for a homestead credit that is either a uniform:
        (1) percentage of the net property taxes due on the homestead after the application of all other deductions and credits; or
        (2) dollar amount applicable to each homestead.
The ordinance must specify the percentage or the dollar amount.
    Sec. 4. (a) If an ordinance is adopted under this chapter, the county auditor shall, for the calendar year in which a homestead

credit is authorized under this chapter, retain from the property tax distributions to the political subdivision the amount necessary so that no other civil taxing unit or school corporation in the county suffers a net revenue loss because of the allowance of the homestead credit.
    (b) The county auditor shall then distribute the revenue used to offset the homestead credit to the political subdivision. This amount of revenue shall be allocated by the political subdivision as if the money were from property tax collections.".
    Renumber all SECTIONS consecutively.
    (Reference is to EHB 1120 as printed April 4, 2005.)

________________________________________

Senator MRVAN


MO112014/DI 58
2005