HB 1001-26_ Filed 01/22/2008, 07:12 Harrist


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    PREVAILED      Roll Call No. _______
    FAILED        Ayes _______
    WITHDRAWN        Noes _______
    RULED OUT OF ORDER


[

HOUSE MOTION ____

]

MR. SPEAKER:

    I move that House Bill 1001 be amended to read as follows:

SOURCE: Page 119, line 40; (08)MO100179.119. -->     Page 119, between lines 40 and 41, begin a new paragraph and insert:
SOURCE: IC 6-1.1-20.6-1.5; (08)MO100179.131. -->     "SECTION 131. IC 6-1.1-20.6-1.5 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE FEBRUARY 29, 2008 (RETROACTIVE)]: Sec. 1.5. As used in this chapter, "dwelling" means any of the following:
        (1) Residential real property improvements that an individual uses as the individual's residence, including a house or garage.
        (2) A mobile home that is not assessed as real property that an individual uses as the individual's residence.
        (3) A manufactured home that is not assessed as real property that an individual uses as the individual's residence.

SOURCE: IC 6-1.1-20.6-2; (08)MO100179.132. -->     SECTION 132. IC 6-1.1-20.6-2, AS ADDED BY P.L.246-2005, SECTION 62, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE FEBRUARY 29, 2008 (RETROACTIVE)]: Sec. 2. As used in this chapter, "homestead" has the meaning set forth in IC 6-1.1-20.9-1. means an individual's principal place of residence that:
        (1) is located in Indiana;
        (2) the individual either owns or is buying under a contract, recorded in the county recorder's office, that provides that the individual is to pay the property taxes on the residence; and
        (3) consists of a dwelling and the real estate, not exceeding one (1) acre, that immediately surrounds that dwelling.
".
SOURCE: Page 120, line 5; (08)MO100179.120. -->     Page 120, between lines 5 and 6, begin a new paragraph and insert:
SOURCE: IC 6-1.1-20.6-5.5; (08)MO100179.134. -->     "SECTION 134. IC 6-1.1-20.6-5.5 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE FEBRUARY 29, 2008 (RETROACTIVE)]: Sec. 5.5. As used in this chapter, "small business property" means tangible property that:
        (1) is owned by a person that employs not more than fifty (50) employees at any time during a calendar year in which a credit is applied under this chapter; and
        (2) is used by the person in the ordinary course of the person's trade or business.
".
SOURCE: Page 122, line 20; (08)MO100179.122. -->     Page 122, between lines 20 and 21, begin a new line double block indented and insert:
            " (C) In the case of property tax liability attributable to the person's small business property, the amount of the credit is the amount by which the person's property tax liability attributable to the person's small business property for property taxes first due and payable in that calendar year exceeds two percent (2%) of the gross assessed value that is the basis for determination of property taxes on the small business property for property taxes first due and payable in that calendar year.".
    Page 122, line 21, delete "(C)" and insert " (D)".
    Page 122, line 22, strike "homestead".
    Page 122, line 22, delete "or qualified" and insert " to which subdivisions (A) through (C) apply,".
    Page 122, line 23, delete "residential property,".
    Page 122, line 25, strike "homestead".
    Page 122, line 25, delete "or qualified".
    Page 122, line 26, delete "residential".
    Page 122, line 26, strike "property)" and insert " property to which subdivisions (A) through (C) apply)".
    Page 122, line 26, after "personal property" insert " (other than property to which subdivision (C) applies)".
    Page 122, line 29, strike "(other than".
    Page 122, line 30, strike "homestead property)" and insert " property to which subdivisions (A) through (C) apply)".
    Page 122, line 30, after "personal property" insert " (other than
property to which subdivision (C) applies)
".
    Renumber all SECTIONS consecutively.
    (Reference is to HB 1001 as printed January 17, 2008.)

________________________________________

Representative Harris T


MO100179/DI 113     2008