Citations Affected: IC 6-1.1; IC 6-2.5; IC 6-3; IC 21-2;
IC 36-7-26.
Synopsis: Tax and budget matters. Establishes the application filing period for certain property
tax deductions and the homestead credit with respect to certain mobile homes and manufactured
homes. Permits assessing officials to receive a per diem and a mileage allowance for attending
training sessions before taking office. Permits the board of trustees of the South Bend
Community Schools to adopt a resolution returning to a calendar year budget cycle. Provides that
the resolution may be rescinded. Updates population parameters to reflect changes in the 2000
decennial census. Specifies circumstances under which a sales tax return does not need to be
filed each month. Updates references in the law to the Internal Revenue Code to refer to the
version of the Internal Revenue Code as amended through January 1, 2002. Allows $1,000,000
of the net increment of sales taxes remitted within an economic development project district to
be paid to the city of South Bend each year that the economic development project district exists
in the city. Allows additional uses of the increment in South Bend. (This conference committee
report: (1) removes provisions extending the economic development for a growing economy
(EDGE) credit to job retention; (2) adds provisions concerning the increment of sales taxes
remitted in an economic development project district in the city of South Bend; and (3)
reconciles conflicts with SEA 357.)
Effective: Upon passage; April 1, 2002 (retroactive); January 1, 2002 (retroactive); January 1,
2003.
MR. SPEAKER:
Your Conference Committee appointed to confer with a like committee from the Senate
upon Engrossed Senate Amendments to Engrossed House Bill No. 1195 respectfully reports
that said two committees have conferred and agreed as follows to wit:
that the House recede from its dissent from all Senate amendments and that
the House now concur in all Senate amendments to the bill and that the bill
be further amended as follows:
calculation and permit the transfers required by this section to be made
on a timely basis.
(b) There is established a sales tax increment financing fund to be
administered by the treasurer of state. The fund is comprised of two (2)
accounts called the net increment account and the credit account.
(c) On the first business day in October of each year, that portion of
the net increment calculated under subsection (a) that is needed:
(1) to pay debt service on the bonds issued under section 24 of this
chapter or to pay lease rentals under section 24 of this chapter; and
(2) to establish and maintain a debt service reserve established by
the commission or by a lessor that provides local public
improvements to the commission;
shall be transferred to and deposited in the fund and credited to the net
increment account. Money credited to the net increment account is
pledged to the purposes described in subdivisions (1) and (2), subject
to the other provisions of this chapter.
(d) On the first business day of October in each year, the remainder
of:
(1) eighty percent (80%) of the gross increment; minus
(2) the amount credited to the net increment account on the same
date;
shall be transferred and credited to the credit account.
(e) The remainder of:
(1) the gross increment; minus
(2) the amounts credited to the net increment account and the
credit account;
shall be deposited by the auditor of state as other gross retail and use
taxes are deposited.
(f) A city described in section 1(2), 1(3), or 1(4) of this chapter may
receive not more than fifty percent (50%) of the net increment each
year. During the time a district exists in a city described in section 1(2),
1(3) or 1(4) of this chapter, not more than a total of one million dollars
($1,000,000) of net increment may be paid to the city described in
section 1(2), 1(3) or 1(4) of this chapter. During each year that a
district exists in a city described in section 1(2) of this chapter, not
more than one million dollars ($1,000,000) of net increment may be
paid to the city described in section 1(2) of this chapter.
(g) The auditor of state shall disburse all money in the fund that is
credited to the net increment account to the commission in equal
semiannual installments on November 30 and May 31 of each year.
commission shall transmit to the board a transcript of the proceedings
with respect to the issuance of the bonds or the execution and delivery
of a lease agreement as contemplated by this section. The transcript
must include a debt service or lease rental schedule setting forth all
payments required in connection with the bonds or the lease rentals.
(b) On January 15 of each year, the commission shall remit to the
treasurer of state the money disbursed from the fund that is credited to
the net increment account that exceeds the amount needed to pay debt
service or lease rentals and to establish and maintain a debt service
reserve under this chapter in the prior year and before May 31 of that
year. Amounts remitted under this subsection shall be deposited by the
auditor of state as other gross retail and use taxes are deposited.
(c) The commission in a city described in section 1(2) of this chapter
may only distribute money from the fund only for the following:
(1) Road, interchange, and right-of-way improvements. and for
(2) Acquisition costs of a commercial retail facility and for real
property acquisition costs in furtherance of the road, interchange,
and right-of-way improvements.
(3) Demolition of commercial property and any related
expenses incurred before or after the demolition of the
commercial property.
(4) For physical improvements or alterations of property that
enhance the commercial viability of the district.
(d) The commission in a city described in section 1(3) of this chapter
may distribute money from the fund only for the following purposes:
(1) For road, interchange, and right-of-way improvements and for
real property acquisition costs in furtherance of the road,
interchange, and right-of-way improvements.
(2) For the demolition of commercial property and any related
expenses incurred before or after the demolition of the commercial
property.
(e) The commission in a city described in section 1(4) of this chapter
may distribute money from the fund only for the following purposes:
(1) For:
(A) the acquisition, demolition, and renovation of property; and
(B) site preparation and financing;
related to the development of housing in the district.
(2) For physical improvements or alterations of property that
enhance the commercial viability of the district.".
Renumber all SECTIONS consecutively.
(Reference is to EHB 1195 as reprinted February 26, 2002.)
____________________________ ____________________________
Representative Bauer Senator Borst
Chairperson
____________________________ ____________________________
Representative Espich Senator Hume
House Conferees Senate Conferees