SB 260-1_ Filed 01/23/2006, 10:42 Kenley
that Senate Bill 260 be amended to read as follows:
SOURCE: Page 38, line 7; (06)MO026001.38. -->
Page 38, between lines 7 and 8, begin a new paragraph and insert:
SOURCE: IC 6-1.1-36-12; (06)MO026001.31. -->
"SECTION 31. IC 6-1.1-36-12 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JANUARY 1, 2006 (RETROACTIVE)]:
Sec. 12. (a) For purposes of this section,
a board of county
commissioners, a county assessor, or an elected township assessor may
enter into a
contract for the discovery of property
that has been undervalued or omitted from assessment. The contract
must prohibit payment to the contractor for discovery of undervaluation
or omission with respect to a parcel or personal property return before
all appeals of the assessment of the parcel or the assessment under the
return have been finalized. The contract may require the contractor to:
(1) examine and verify the accuracy of personal property returns
filed by taxpayers with a township assessor of a township in the
(2) compare a return with the books of the taxpayer and with
personal property owned, held, possessed, controlled, or occupied
by the taxpayer.
(b) The investigation and collection expenses of a contract under
subsection (a) may be deducted from the gross amount of taxes
collected on the undervalued or omitted property that is so discovered.
Subject to subsection (c),
the remainder of the taxes collected on the
undervalued or omitted property shall be distributed to the appropriate
(c) This subsection applies if funds are not budgeted for
payment of services performed under a contract described in
subsection (a). The county auditor may create a special
nonreverting fund in which the county treasurer may deposit the
net amount of taxes, including penalties and interest, that result
from additional assessments on undervalued or omitted property
collected from all taxing jurisdictions in the county. The fund
remains in existence during the term of the contract. Distributions
shall be made from the fund only for the following purposes:
(1) All refunds due to taxpayers as a result of the contract.
(2) All contract fees and other costs related to the contract.
(3) After the payments required by subdivisions (1) and (2)
have been made and the contract has expired, all money
remaining in the fund shall be distributed by the county
auditor to the appropriate taxing units in the county.
A board of county commissioners, a county assessor, or an
elected township assessor may not contract for services under
subsection (a) on a percentage basis.".
Renumber all SECTIONS consecutively.
(Reference is to SB 260 as printed January 20, 2006.)