Introduced Version
HOUSE BILL No. 1099
_____
DIGEST OF INTRODUCED BILL
Citations Affected: IC 20-49-8.2.
Synopsis: Shortfall loans from the common school fund. Provides that
school corporations that experience property tax revenue shortfalls of
at least 5% due to: (1) reassessments ordered by the department of local
government finance for the March 1, 2006, or January 15, 2007,
assessment date; or (2) the inability of the county treasurer of the
county in which a school corporation is located to issue property tax
statements in a timely manner; may apply to the state board of
education for a shortfall loan from the common school fund. Extends
the expiration date of shortfall loan provisions from December 31,
2010, to December 31, 2011.
Effective: Upon passage.
Koch
January 8, 2008, read first time and referred to Committee on Ways and Means.
Introduced
Second Regular Session 115th General Assembly (2008)
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HOUSE BILL No. 1099
A BILL FOR AN ACT to amend the Indiana Code concerning
education.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 20-49-8.2-1; (08)IN1099.1.1. -->
SECTION 1. IC 20-49-8.2-1, AS ADDED BY P.L.211-2007,
SECTION 46, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 1. As used in this chapter, "eligible school
corporation" refers to a school corporation located in a county:
(1) that has been reassessed:
(A) under IC 6-1.1-4-9 for the March 1, 2006, or January
15, 2007, assessment dates (as defined in IC 6-1.1-1-2); or
(B) under IC 6-1.1-4-32 (before its repeal); or
(2) in which distributions of property tax revenue for 2007 or
2008 to the taxing units (as defined in IC 6-1.1-1-21) of the
county:
(A) have not been made; or
(B) were delayed by more than fifty-one (51) days after
either due date specified in IC 6-1.1-22-9.
SOURCE: IC 20-49-8.2-4; (08)IN1099.1.2. -->
SECTION 2. IC 20-49-8.2-4, AS ADDED BY P.L.211-2007,
SECTION 46, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 4. The state board may loan money to an
eligible school corporation that has experienced a shortfall of at least
five percent (5%) in the collection of property tax levies in the current
year or the preceding years for the eligible school corporation's general
fund as a result of any of the following:
(1) Erroneous assessed valuation amounts provided to the eligible
school corporation.
(2) Erroneous figures used to determine the eligible school
corporation's general fund property tax rate.
(3) A change in the assessed valuation of property as the result of
appeals under IC 6-1.1 or IC 6-1.5.
(4) The payment of refunds that resulted from appeals under
IC 6-1.1 or IC 6-1.5.
(5) A reassessment ordered by the department of local
government finance for the March 1, 2006, or January 15,
2007, assessment dates (as defined in IC 6-1.1-1-2).
(6) The inability of the county treasurer of the county in
which the school corporation is located to issue property tax
statements under IC 6-1.1-22-8 in a timely manner.
SOURCE: IC 20-49-8.2-7; (08)IN1099.1.3. -->
SECTION 3. IC 20-49-8.2-7, AS ADDED BY P.L.211-2007,
SECTION 46, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 7. (a) An eligible school corporation:
(1) that is referred to in section 1(1)(B) of this chapter; and
(2) that obtains a loan under this chapter;
may annually levy a tax in the debt service fund to repay the loan.
(b) An eligible school corporation:
(1) that is referred to in section 1(1)(A) or 1(2) of this chapter;
and
(2) that obtains a loan under this chapter;
may not levy a tax to repay the loan.
SOURCE: IC 20-49-8.2-10; (08)IN1099.1.4. -->
SECTION 4. IC 20-49-8.2-10, AS ADDED BY P.L.211-2007,
SECTION 46, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 10. This chapter expires December 31, 2010.
2011.
SOURCE: ; (08)IN1099.1.5. -->
SECTION 5.
An emergency is declared for this act.