SB 585-7_ Filed 04/10/2013, 07:26 Slager
Text Box
PREVAILED Roll Call No. _______
FAILED Ayes _______
WITHDRAWN Noes _______
RULED OUT OF ORDER
[
HOUSE MOTION ____
]
MR. SPEAKER:
I move that Engrossed Senate Bill 585 be amended to read as follows:
SOURCE: Page 1, line 11; (13)MO058507.1. -->
Page 1, between lines 11 and 12, begin a new paragraph and insert:
SOURCE: IC 6-1.1-18.5-2; (13)MO058507.2. -->
"SECTION 2. IC 6-1.1-18.5-2, AS AMENDED BY P.L.1-2008,
SECTION 3, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2013]: 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.
(b) 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
one-thousandth (0.001).
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
calendar year.".
SOURCE: Page 4, line 41; (13)MO058507.4. -->
Page 4, between lines 41 and 42, begin a new paragraph and insert:
SOURCE: ; (13)MO058507.7. -->
"SECTION 7. [EFFECTIVE UPON PASSAGE]
(a)
IC 6-1.1-18.5-2, as amended by this act, applies to maximum
permissible ad valorem property tax levy determinations made
after 2013.
(b) This SECTION expires January 1, 2017.".
Renumber all SECTIONS consecutively.
(Reference is to ESB 585 as printed April 8, 2013.)
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MO058507/DI 58 2013