HB 1007-2_ Filed 01/14/2004, 18:02 Fry
Text Box
PREVAILED Roll Call No. _______
FAILED Ayes _______
WITHDRAWN Noes _______
RULED OUT OF ORDER
[
HOUSE MOTION ____
]
MR. SPEAKER:
I move that House Bill 1007 be amended to read as follows:
Delete the title and insert the following:
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation and to make an appropriation.
SOURCE: Page 5, line 38; (04)MO100701.5. -->
Page 5, between lines 38 and 39, begin a new paragraph and insert:
SOURCE: IC 6-1.1-21-5.2; (04)MO100701.6. -->
"SECTION 6. IC 6-1.1-21-5.2 IS ADDED TO THE INDIANA
CODE AS A
NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]:
Sec. 5.2. (a) The following definitions apply
throughout this section:
(1) "Base year" means the most recent calendar year:
(A) in which an individual qualifies and files for the credit
under this section; and
(B) that is preceded by a calendar year in which the
individual did not qualify or file for the credit under this
section.
(2) "Homestead" means an individual's principal place of
residence for which the individual receives a homestead
credit under IC 6-1.1-20.9.
(3) "Net property tax bill" means the amount of property
taxes due and payable by an individual for a particular
calendar year after the application of all deductions and
credits, except for the credit allowed under this section, as
evidenced by the tax statements prepared and mailed under
IC 6-1.1-22-8.
(4) "Qualifying individual" means an individual:
(A) who is at least sixty-five (65) years of age on or before
December 31 of the calendar year preceding the year in
which the credit under this section is claimed; and
(B) whose adjusted gross income (as defined in
IC 6-3-1-3.5), either individually or in combination with
the adjusted gross income of:
(i) the individual's spouse; or
(ii) any other individual with whom the individual shares
ownership of or is purchasing the property under
contract as joint tenants or tenants in common;
for the calendar year preceding the year in which the
credit is claimed did not exceed twenty-five thousand
dollars ($25,000).
(b) Each year a qualifying individual is entitled to receive a
credit against the net property tax bill on the individual's
homestead. The amount of the credit to which a qualifying
individual is entitled equals the difference between:
(1) the net property tax bill, before the application of the
credit under this section, on the individual's homestead for
the calendar year for which the credit is being claimed;
minus
(2) the net property tax billed to the individual for that
homestead for the individual's base year.
(c) An individual who desires to claim the credit provided by
this section must file a certified statement in duplicate, on forms
prescribed by the department of local government finance, with
the auditor of the county in which the individual's homestead is
located. The statement must be filed during the twelve (12)
months before May 11 of the year before the first year for which
the person wishes to obtain the credit under this section. The
statement must contain the following information:
(1) The individual's full name and complete address.
(2) A description of the individual's homestead and the
number of years that the individual has resided at that
homestead.
(3) Proof of the individual's age.
(4) The name of any other county and township in which the
individual owns or is buying real property.
(5) The source and exact amount of gross income received
during the preceding calendar year by the individual and any
of the following, if applicable:
(A) The individual's spouse.
(B) Any other individual with whom the individual shares
ownership of or is purchasing the homestead under
contract as joint tenants or tenants in common.
(6) The record number and page where the contract or
memorandum of the contract is recorded, if the individual is
buying the homestead on contract.
(7) Any other information requested by the department of
local government finance.
(d) To substantiate a claim statement, an individual shall
submit for inspection by the county auditor a copy of state income
tax returns for the preceding calendar year for the following, as
applicable:
(1) The individual.
(2) The individual's spouse.
(3) Any other individual with whom the individual shares
ownership of or is purchasing the homestead under contract
as joint tenants or tenants in common.
If an individual described in this subsection was not required to
file a state income tax return, the individual shall state that fact
in the claim statement.
(e) The auditor of a county with whom a statement is filed
under this section shall immediately prepare and transmit a copy
of the statement to the auditor of any other county if the
individual who claims the credit owns or is buying real property
located in the other county. The county auditor of the other
county shall note on the copy of the statement whether the
individual has claimed a credit under this section for a homestead
located in the other county. The auditor shall then return the copy
to the auditor of the first county.
(f) Upon receiving a proper credit statement, the county auditor
shall allow the credit equally against each installment of property
taxes to which the credit applies. The county auditor shall include
the amount of the credit applied against each installment of taxes
on the tax statement required under IC 6-1.1-22-8.
(g) After January 31 and before February 15 of each year, each
county auditor shall certify to the department of local government
finance the number and amounts of the credits allowed under this
section for that calendar year. Upon receiving the certifications,
the department of local government finance shall determine the
total amount of the credits allowed in each county under this
section and shall certify the totals to the department of state
revenue at the same time the department of local government
finance certifies the total county tax levies. The department of
state revenue shall distribute to each county from the property
tax replacement fund the amount of credits certified for that
county by the department of local government finance at the same
time and in the same manner as the department of state revenue
distributes the county's estimated distribution under section 10 of
this chapter. Money is annually appropriated from the property
tax replacement fund in an amount necessary to make the
distributions.".
SOURCE: Page 11, line 14; (04)MO100701.11. -->
Page 11, between lines 14 and 15, begin a new paragraph and insert:
SOURCE: IC 6-2.3-2-2; (04)MO100701.9. -->
"SECTION 9. IC 6-2.3-2-2, AS ADDED BY P.L.192-2002(ss),
SECTION 47, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 2. The receipt of taxable gross receipts from
transactions is subject to a tax rate of one and four-tenths five-tenths
percent (1.4%). (1.5%).
SOURCE: IC 6-2.3-8-1; (04)MO100701.10. -->
SECTION 10. IC 6-2.3-8-1, AS ADDED BY P.L.192-2002(ss),
SECTION 47, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 1. On or before the fifth day of each month, the
total amount of utility receipts tax revenues received by the department
in the immediately preceding month shall be deposited as follows:
(1) Ninety-four percent (94%) in the state general fund.
(2) Six percent (6%) in the property tax replacement fund.
SOURCE: IC 6-3-2-1; (04)MO100701.11. -->
SECTION 11. IC 6-3-2-1, AS AMENDED BY P.L.192-2002(ss),
SECTION 70, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 1. (a) Each taxable year, a tax at the rate of three
and four-tenths percent (3.4%) of adjusted gross income is imposed
upon the adjusted gross income of every resident person, and on that
part of the adjusted gross income derived from sources within Indiana
of every nonresident person.
(b) Each taxable year, a tax at the rate of eight and five-tenths
six-tenths percent (8.5%) (8.6%) of adjusted gross income is imposed
on that part of the adjusted gross income derived from sources within
Indiana of every corporation.
SOURCE: IC 6-3-7-3; (04)MO100701.12. -->
SECTION 12. IC 6-3-7-3, AS AMENDED BY P.L.192-2002(ss),
SECTION 83, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 3. (a) All revenues derived from collection of the
adjusted gross income tax imposed on corporations shall be deposited
in the state general fund.
(b) All revenues derived from collection of the adjusted gross
income tax imposed on persons shall be deposited as follows:
(1) Eighty-six Eighty-five percent (86%) (85%) in the state
general fund.
(2) Fourteen Fifteen percent (14%) (15%) in the property tax
replacement fund.
SOURCE: ; (04)MO100701.13. -->
SECTION 13. [EFFECTIVE JULY 1, 2004]
(a) IC 6-1.1-21-5.2, as
added by this act, applies to credit claims filed after December 31,
2003.
(b) IC 6-1.1-21-5.2, as added by this act, applies to property
taxes first due and payable after December 31, 2004.
(c) IC 6-2.3-2-2, as amended by this act, applies to transactions
billed after June 30, 2004.
(d) IC 6-3-2-1, as amended by this act, applies to adjusted gross
income derived from sources in Indiana after June 30, 2004, as
determined in the manner prescribed by the department of state
revenue.".
Renumber all SECTIONS consecutively.
(Reference is to HB 1007 as printed January 13, 2004.)
________________________________________
MO100701/DI 103 2004