Introduced Version






HOUSE BILL No. 1449

_____


DIGEST OF INTRODUCED BILL



Citations Affected: IC 6-1.1-18.5.

Synopsis: Civil taxing unit maximum property tax levy. Eliminates the limitation on the amount of a civil taxing unit's maximum permissible property tax levy for the current year that results from imposition in the immediately preceding year of an actual levy that is lower than the maximum. Corrects cross-references.

Effective: Upon passage.





Thompson




    January 23, 2007, read first time and referred to Committee on Ways and Means.







Introduced

First Regular Session 115th General Assembly (2007)


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HOUSE BILL No. 1449



    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 6-1.1-18.5-1; (07)IN1449.1.1. -->     SECTION 1. IC 6-1.1-18.5-1, AS AMENDED BY P.L.154-2006, SECTION 46, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 1. As used in this chapter:
    "Ad valorem property tax levy for an ensuing calendar year" means the total property taxes imposed by a civil taxing unit for current property taxes collectible in that ensuing calendar year.
    "Adopting county" means any county in which the county adjusted gross income tax is in effect.
    "Civil taxing unit" means any taxing unit except a school corporation.
    "Maximum permissible ad valorem property tax levy for the preceding calendar year" means the greater of:
        (1) the remainder of:
            (A) the civil taxing unit's maximum permissible ad valorem property tax levy for the calendar year immediately preceding the ensuing calendar year, as that levy was determined under section 3 of this chapter; minus
            (B) one-half (1/2) of the remainder of:
                (i) the civil taxing unit's maximum permissible ad valorem property tax levy referred to in clause (A); minus
                (ii) the civil taxing unit's ad valorem property tax levy for the calendar year immediately preceding the ensuing calendar year referred to in subdivision (2); or
        (2) the civil taxing unit's ad valorem property tax levy for the calendar year immediately preceding the ensuing calendar year, as that levy was determined by the department of local government finance in fixing the civil taxing unit's budget, levy, and rate for that preceding calendar year under IC 6-1.1-17, and after eliminating the effects of temporary excessive levy appeals and temporary adjustments made to the working maximum levy for the calendar year immediately preceding the ensuing calendar year, as determined by the department of local government finance.
    "Taxable property" means all tangible property that is subject to the tax imposed by this article and is not exempt from the tax under IC 6-1.1-10 or any other law. For purposes of sections 2 and section 3 of this chapter, the term "taxable property" is further defined in section 6 of this chapter.
    "Unadjusted assessed value" means the assessed value of a civil taxing unit as determined by local assessing officials and the department of local government finance in a particular calendar year before the application of an annual adjustment under IC 6-1.1-4-4.5 for that particular calendar year or any calendar year since the last general reassessment preceding the particular calendar year.
SOURCE: IC 6-1.1-18.5-6; (07)IN1449.1.2. -->     SECTION 2. IC 6-1.1-18.5-6 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 6. (a) For purposes of STEP TWO of section 2(a) of this chapter and STEP TWO of section 2(b) of this chapter, the civil taxing unit's taxable property includes all taxable property located in the geographic area subject to the civil taxing unit's ad valorem property tax levy for the ensuing calendar year, regardless of whether that property was located in the geographic area subject to the civil taxing unit's ad valorem property tax levy in the calendar years for which the computation is made.
    (b) For purposes of STEP TWO of section 2(a) of this chapter, STEP THREE of section 3(a) of this chapter and STEP THREE of section 3(b) of this chapter, the assessed value of taxable property is the assessed value of that property as determined by the department of local government finance in fixing the civil taxing unit's budget, levy, and rate for the applicable calendar year, excluding deductions allowed

under IC 6-1.1-12 or IC 6-1.1-12.1.

SOURCE: ; (07)IN1449.1.3. -->     SECTION 3. [EFFECTIVE UPON PASSAGE] IC 6-1.1-18.5-1 and IC 6-1.1-18.5-6, both as amended by this act, apply only to property taxes first due and payable after December 31, 2007.
SOURCE: ; (07)IN1449.1.4. -->     SECTION 4. An emergency is declared for this act.