CODE AS A NEW CHAPTER TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2007 (RETROACTIVE)]:
Chapter 21.3. Payments in Lieu of Property Taxes
Sec. 1. As used in this chapter, "department" refers to the
department of natural resources.
Sec. 2. As used in this chapter, "land" refers to land described
in section 5 of this chapter.
Sec. 3. As used in this chapter, "fund" refers to the PILOT
transfer fund established under section 11 of this chapter.
Sec. 4. As used in this chapter, "PILOT" refers to a distribution
to a county under this chapter that is in lieu of property taxes on
land located in the county.
Sec. 5. Upon the submission of a claim under section 10 of this
chapter, a county in which land:
(1) owned or leased by the department on March 1 of the
previous year; and
(2) exempt from the payment of property taxes;
is located is entitled to receive a PILOT under this chapter.
Sec. 6. Subject to section 13 of this chapter, the PILOT required
to be paid to a county for a year is equal to the amount determined
under STEP FIVE of the following formula:
STEP ONE: For each taxing district in the county, determine
the number of acres of land that are located in the taxing
district.
STEP TWO: Multiply the STEP ONE amount by the base
rate determined for the assessment date in the previous year.
STEP THREE: Divide the STEP TWO result by one hundred
(100).
STEP FOUR: Multiply the STEP THREE result by the
property tax rate in the taxing district in which the land is
located for property taxes first due and payable in the year.
STEP FIVE: Subtract from the STEP FOUR result the
property tax replacement credit under IC 6-1.1-21-5 that
would apply to the land in the taxing district if a property tax
equal to the STEP FOUR amount were imposed on the land.
STEP SIX: Determine the sum of the STEP FIVE amounts for
all land located in the county.
Sec. 7. (a) Not later than September 1 of the year preceding the
year in which a PILOT is due, the auditor of state shall provide the
county assessor of each county in which land is located with a
report of:
(1) the number of acres of land that are located in each taxing
district in the county on the assessment date in that year;
(2) the parcel numbers or key numbers of the land referred to
in subdivision (1); and
(3) any other information specified by the department of local
government finance.
(b) The auditor of state shall provide the report required by
subsection (a):
(1) on a form prescribed by the department of local
government finance; or
(2) with the consent of the department of local government
finance, in an electronic format.
Sec. 8. The department of local government finance:
(1) shall prescribe a form for the report required under
section 7 of this chapter; and
(2) may adopt standards for the reporting of information
under section 7 of this chapter that are necessary to assist
counties, conservancy districts, and other political
subdivisions with the implementation of this chapter.
Sec. 9. A county assessor shall annually provide the county
auditor and the county treasurer with the information from the
report provided under section 7 of this chapter that is necessary
for the county assessor and county treasurer to prepare a claim for
a PILOT. The information must be delivered on the schedule
specified by the county auditor and the county treasurer.
Sec. 10. The county treasurer shall submit to the auditor of state
a claim for a PILOT for a particular year at the same time that the
county treasurer issues property tax statements under
IC 6-1.1-22-8. The claim shall be computed in accordance with the
formula in section 6 of this chapter. A county treasurer may
submit an amended claim for a PILOT in accordance with the
policies prescribed by the auditor of state.
Sec. 11. (a) The PILOT transfer fund is established to provide
money for the distributions of PILOTS to counties. The auditor of
state shall administer the fund.
(b) The expenses of administering the fund shall be paid from
money in the fund.
(c) The treasurer of state shall invest the money in the fund not
currently needed to meet the obligations of the fund in the same
manner as other public money may be invested.
(d) Money in the fund at the end of a state fiscal year does not
revert to the state general fund. However, if the fund at the end of
a state fiscal year exceeds seven million dollars ($7,000,000), the
auditor of state shall transfer the excess from the fund as follows:
(1) Sixty-five and forty-two hundredths percent (65.42%) in
the state forestry fund for purposes of the state forestry fund.
(2) One and twenty-five hundredths percent (1.25%) in the
general fund for purposes of the department of local
government finance data base management.
(3) Thirty-three and thirty-three hundredths percent
(33.33%) in the state fair fund for purposes of the state fair
fund.
The amount transferred is continuously appropriated for the
purposes to which the money is transferred.
Sec. 12. The auditor of state shall pay PILOTS from the fund.
The maximum amount payable to a county for a particular year is
the least of the following:
(1) The amount determined for the county under section 6 of
this chapter.
(2) The amount determined under section 13 of this chapter.
Sec. 13. (a) This section applies only if the total amount of
PILOTS payable in a year to all counties under section 6 of this
chapter is greater than the amount available in the fund.
(b) If the amount in the fund is less than the amount necessary
to pay all claims for PILOTS for a particular year, the amount of
the PILOT payable to a county in which land is located is reduced
to the amount determined under STEP FOUR of the following
formula:
STEP ONE: Determine the amount of the PILOT that
otherwise would be payable to the county under section 6 of
this chapter.
STEP TWO: Determine the sum of the STEP ONE amounts
for all counties in which land is located.
STEP THREE: Divide the STEP ONE amount by the STEP
TWO amount, rounded to the nearest ten thousandth
(0.0001).
STEP FOUR: Multiply the amount available for distribution
from the fund for the particular year by the STEP THREE
result.
Sec. 14. The budget agency shall establish the schedule on which
distributions are made under this chapter. To the extent possible,
distributions shall be made in equal installments not later than
fifteen (15) regular business days after each semiannual settlement
date under IC 6-1.1-27-3.
Sec. 15. There is continuously appropriated from the fund the
amount necessary to make the distributions required by this
chapter.
Sec. 16. A PILOT for a county shall be distributed to the county
treasurer. The county treasurer shall distribute the amount of a
PILOT to each taxing unit in the county in which land is located in
proportion to the tax rate imposed by each taxing unit on the land
not later than the next settlement date after the money is received
by the county treasurer. A taxing unit shall treat money received
under this section as a levy excess and deposit the money in the
taxing unit's levy excess fund under IC 6-1.1-18.5-17 or
IC 6-1.1-19-1.7 for the purpose of reducing property tax levies in
the year following the year in which the PILOT is imposed.".
Sec. 3. (a) Annually there shall be levied and collected as other state
taxes are levied and collected the amount of sixteen hundredths of one
cent ($0.0016) upon each one hundred dollars ($100) worth of taxable
property in Indiana.
(b) The money collected shall be deposited as follows:
(1) An amount equal to the levy resulting from one hundred
fifty-seven thousandths of one cent ($0.00157) of the rate
imposed for property taxes first due and payable in 2006 shall
be paid deposited into the fund. The money collected
(2) An amount equal to the levy resulting from three
thousandths of one cent ($0.00003) imposed for property taxes
first due and payable in 2006 is appropriated to the budget
agency for purposes of department of local government finance
data base management.
(3) The amount not deposited under subdivisions (1) and (2)
shall be deposited into the PILOT transfer fund established
under IC 6-1.1-21.3-11.