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Indiana General Assembly
House Bill 1007


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House Bill 1007

ARCHIVE (2007)

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DIGEST OF HB 1007 (Updated February 12, 2007 7:15 pm - DI 92)

Transfers authority to contract for certain services related to the administration of the property tax laws from the townships to the county. Requires a county assessor in a county that does not contain a consolidated city to verify the accuracy and completeness of a real estate sales disclosure form before the form is filed with the county auditor. Establishes a local government capital project property tax control board in each county for the purpose of approving proposed bond issues and lease rental agreements involving a political subdivision other than a school corporation. Permits a political subdivision to transfer money from one fund to another and use the money for the purposes of the fund to which the money is transferred. Eliminates the authority of a political subdivision other than a school corporation to bank unused property tax levy authority under the statutory maximum permissible levy limitations. Permits a county to impose an additional 1% county adjusted gross income tax rate or a county option income tax rate on individuals and corporations to provide property tax relief and additional revenue for the taxing units in the county. Permits the county in which an individual has the individual's principal place of employment or business to retain a portion of the tax. Requires the revenue that is not used for property tax relief to be used for public safety expenditures. Eliminates the authority of a city, town, or county to use economic development income taxes for purposes other than the purposes expressly stated in the law. Freezes the amount of a county's obligation to provide funding for child services at an amount equal to the lesser of the county's contribution for 2005 or 2007. Requires the department of child services to provide any additional funding necessary to pay the costs of child services. Requires the budget agency to reimburse a county for child services expenditures in 2006 and 2007 that exceeded the county's contribution for child services in 2005. Permits a taxing unit to impose a local judicial mandate levy to pay capital, financing, and operating costs incurred to comply with a court order. Makes related changes. Repeals provisions requiring a county to obtain loans or issue bonds to cover shortfalls in the amount of money available to provide child services. Specifies that for assessment dates in 2007 and 2008, the statewide agricultural land base rate value is $880 dollars per acre.
Current Status:
 Failed first House
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