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.