HB 1670-2_ Filed 02/23/2009, 07:17 Walorski
PREVAILED Roll Call No. _______
FAILED Ayes _______
WITHDRAWN Noes _______
RULED OUT OF ORDER
HOUSE MOTION ____
I move that House Bill 1670 be amended to read as follows:
Delete the title and insert the following:
A BILL FOR AN ACT to amend the Indiana Code concerning
SOURCE: Page 1, line 1; (09)MO167001.1. -->
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
SOURCE: IC 6-1.1-4-4.3; (09)MO167001.1. -->
"SECTION 1. IC 6-1.1-4-4.3 IS ADDED TO THE INDIANA CODE
AS A NEW
SECTION TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2010]: Sec. 4.3. (a) As used in this section,
"homestead" has the meaning set forth in IC 6-1.1-12-37.
(b) Except as provided in subsection (c) and subject to
subsection (d), for assessment dates after 2009, the assessed value
of a homestead for an assessment date may not exceed the product
(1) the assessed value of the homestead for the immediately
preceding assessment date; multiplied by
(2) one hundred five percent (105%).
(c) Subsection (b) does not apply for an assessment date if:
(1) the entire ownership interest; or
(2) any part of the ownership interest;
in the homestead changes on or before that assessment date after
the immediately preceding assessment date.
(d) Subsection (b):
(1) applies only to the extent that the increase in the assessed
value of the homestead is attributable to:
(A) an annual adjustment under section 4.5 of this chapter;
(B) the application in:
(i) a general reassessment under section 4 of this
(ii) an assessment determined for the assessment date in
a year other than a year in which a general assessment
under section 4 of this chapter first applies;
of factors other than the recognition of one (1) or more
physical changes to the property; and
(2) does not apply to the extent that the increase is
attributable to the recognition of one (1) or more physical
changes to the property.
(e) The department of local government finance shall adopt
rules under IC 4-22-2 to implement this section.
Renumber all SECTIONS consecutively.
(Reference is to HB 1670 as printed February 20, 2009.)
MO167001/DI 51 2009