Introduced Version






SENATE JOINT
RESOLUTION No. 10

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DIGEST OF INTRODUCED RESOLUTION



Citations Affected: Article 10 of the Constitution of the State of Indiana.

Synopsis: Property tax. Exempts homesteads from property taxation. This proposed amendment has not been previously agreed to by a general assembly.

Effective: This proposed amendment must be agreed to by two consecutive general assemblies and ratified by a majority of the state's voters voting on the question to be effective.





Young R Michael




    January 5, 2010, read first time and referred to Committee on Tax and Fiscal Policy.








Introduced

Second Regular Session 116th General Assembly (2010)

                

PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
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SENATE JOINT
RESOLUTION No. 10




    A JOINT RESOLUTION proposing an amendment to Article 10, Section 1 of the Constitution of the State of Indiana.

Be it resolved by the General Assembly of the State of Indiana:

SOURCE: ; (10)SJ9613.1. -->     SECTION 1. The following amendments to the Constitution of the State of Indiana are proposed and agreed to by this, the One Hundred Sixteenth General Assembly of the State of Indiana, and are referred to the next General Assembly for reconsideration and agreement.
SOURCE: CON 10; (10)SJ9613.2. -->     SECTION 2. ARTICLE 10, SECTION 1 OF THE CONSTITUTION OF THE STATE OF INDIANA IS AMENDED TO READ AS FOLLOWS: Section 1. (a) The General Assembly shall provide, by law, for a uniform and equal rate of property assessment and taxation and shall prescribe regulations to secure a just valuation for taxation of all property, both real and personal.
     (b) The General Assembly may exempt from property taxation any property in any of the following classes:
        (1) Property being used for municipal, educational, literary,

scientific, religious, or charitable purposes.
        (2) Tangible personal property other than property being held as an investment.
        (3) Intangible personal property.
    (4) (c) Tangible real property, including curtilage, is exempt from property tax if the property is used as a principal place of residence by an:
        (A) (1) owner of the tangible property;
        (B) (2) individual who is buying the tangible real property under a contract; or
        (C) (3) individual who has a beneficial interest in the owner of the tangible real property.
    (b) (d) The General Assembly may exempt any motor vehicles, mobile homes not exempt under subsection (c), airplanes, boats, trailers, or similar property, provided that an excise tax in lieu of the property tax is substituted therefor.
     (e) The General Assembly may impose reasonable filing requirements for a property tax exemption, deduction, or credit.

SOURCE: ; (10)SJ9613.3. -->     SECTION 3. (a) The amendment to the Constitution of the State of Indiana made by this joint resolution first applies to the assessment date that occurs after the month of February in the year that immediately follows the date that the proposed amendment is ratified by a majority of the state's voters voting on the question.
    (b) If the voters ratify the amendments to the Constitution of the State of Indiana proposed by this joint resolution, this SECTION does not become a part of the Constitution of the State of Indiana.