SB 239-4_ Filed 02/01/2010, 08:51 Taylor
that Senate Bill 239 be amended to read as follows:
SOURCE: Page 41, line 37; (10)MO023909.41. -->
Page 41, between lines 37 and 38, begin a new paragraph and insert:
SOURCE: IC 6-1.1-18.5-2; (10)MO023909.34. -->
"SECTION 34. IC 6-1.1-18.5-2, AS AMENDED BY P.L.1-2008,
SECTION 3, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 2. (a) As used in this section, "Indiana
nonfarm personal income" means the estimate of total nonfarm
personal income for Indiana in a calendar year as computed by the
federal Bureau of Economic Analysis using any actual data for the
calendar year and any estimated data determined appropriate by the
federal Bureau of Economic Analysis.
Subject to subsection (c),
For purposes of determining a civil
taxing unit's maximum permissible ad valorem property tax levy for an
ensuing calendar year, the civil taxing unit shall use the assessed value
growth quotient determined in the last STEP of the following STEPS:
STEP ONE: For each of the six (6) calendar years immediately
preceding the year in which a budget is adopted under
IC 6-1.1-17-5 for the ensuing calendar year, divide the Indiana
nonfarm personal income for the calendar year by the Indiana
nonfarm personal income for the calendar year immediately
preceding that calendar year, rounding to the nearest
STEP TWO: Determine the sum of the STEP ONE results.
STEP THREE: Divide the STEP TWO result by six (6), rounding
to the nearest one-thousandth (0.001).
STEP FOUR: Determine the lesser of the following:
(A) The STEP THREE quotient.
(B) One and six-hundredths (1.06).
(c) This subsection applies only to civil taxing units in Lake County.
Notwithstanding any other provision, for property taxes first due and
payable after December 31, 2007, the assessed value growth quotient
used to determine a civil taxing unit's maximum permissible ad
valorem property tax levy under this chapter for a particular calendar
year is one (1) unless a tax rate of one percent (1%) will be in effect
under IC 6-3.5-1.1-26 or IC 6-3.5-6-32 in Lake County for that
SOURCE: Page 117, line 5; (10)MO023909.117. -->
Page 117, between lines 5 and 6, begin a new paragraph and insert:
SOURCE: ; (10)MO023909.79. -->
"SECTION 79. [EFFECTIVE UPON PASSAGE] (a)
IC 6-1.1-18.5-2, as amended by this act, applies to property taxes
imposed for assessment dates after February 28, 2010.
(b) This SECTION expires January 1, 2015.
Renumber all SECTIONS consecutively.
(Reference is to SB 239 as printed January 29, 2010.)