Introduced Version
HOUSE BILL No. 1300
_____
DIGEST OF INTRODUCED BILL
Citations Affected: IC 3-11-6-9; IC 4-4-8-9; IC 4-33; IC 5-10.3-11-4;
IC 6-1.1; IC 6-3.5; IC 8-1-11.1-16; IC 8-10-5-17; IC 8-16; IC 8-22-3;
IC 10-4-1-29; IC 12-19-7; IC 12-20-25; IC 12-29; IC 13-21-3;
IC 14-9-9-8; IC 14-27-6; IC 14-33; IC 15-1-6-2; IC 16-22; IC 16-23;
IC 16-41; IC 20-1-1.3-8; IC 20-5; IC 20-8.1; IC 20-14; IC 21-2;
IC 23-13-17-1; IC 23-14; IC 36-2-6-18; IC 36-3-4-22; IC 36-4-6-20;
IC 36-5-2-11; IC 36-7; IC 36-8; IC 36-9; IC 36-10.
Synopsis: Elimination of property tax controls. Eliminates property tax
rate and levy controls except for school general fund controls related
to the school tuition support formula.
Effective: January 1, 2004.
Kruse
January 13, 2003, read first time and referred to Committee on Ways and Means.
Introduced
First Regular Session 113th General Assembly (2003)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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HOUSE BILL No. 1300
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 3-11-6-9; (03)IN1300.1.1. -->
SECTION 1. IC 3-11-6-9 IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2004]: Sec. 9. To provide for a cumulative
fund, a county may levy a tax in compliance with IC 6-1.1-41 on all
taxable property within the county. The tax may not exceed one and
sixty-seven hundredths cents ($0.0167) on each one hundred dollars
($100) of assessed valuation.
SOURCE: IC 4-4-8-9; (03)IN1300.1.2. -->
SECTION 2. IC 4-4-8-9 IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2004]: Sec. 9. Any qualified entity
receiving a loan under this chapter may levy an annual tax on personal
and real property located within its geographical limits for industrial
development purposes, in addition to any other tax authorized by
statute to be levied for such purposes, at such rate as will produce
sufficient revenue to pay the annual installment and interest on any
loan made under this chapter. Such a tax may be in addition to the
maximum annual rates prescribed by IC 6-1.1-18, IC 6-1.1-18.5,
IC 6-1.1-19, and other statutes.
SOURCE: IC 4-33-12-6; (03)IN1300.1.3. -->
SECTION 3. IC 4-33-12-6, AS AMENDED BY P.L.192-2002(ss),
SECTION 23, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 6. (a) The department shall place in the state
general fund the tax revenue collected under this chapter.
(b) Except as provided by subsections (c) and (d) and IC 6-3.1-20-7,
the treasurer of state shall quarterly pay the following amounts:
(1) Except as provided in subsection (k), one dollar ($1) of the
admissions tax collected by the licensed owner for each person
embarking on a gambling excursion during the quarter or
admitted to a riverboat that has implemented flexible scheduling
under IC 4-33-6-21 during the quarter shall be paid to:
(A) the city in which the riverboat is docked, if the city:
(i) is located in a county having a population of more than
one hundred ten thousand (110,000) but less than one
hundred fifteen thousand (115,000); or
(ii) is contiguous to the Ohio River and is the largest city in
the county; and
(B) the county in which the riverboat is docked, if the
riverboat is not docked in a city described in clause (A).
(2) Except as provided in subsection (k), one dollar ($1) of the
admissions tax collected by the licensed owner for each person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to a riverboat during the quarter that has
implemented flexible scheduling under IC 4-33-6-21;
shall be paid to the county in which the riverboat is docked. In the
case of a county described in subdivision (1)(B), this one dollar
($1) is in addition to the one dollar ($1) received under
subdivision (1)(B).
(3) Except as provided in subsection (k), ten cents ($0.10) of the
admissions tax collected by the licensed owner for each person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to a riverboat during the quarter that has
implemented flexible scheduling under IC 4-33-6-21;
shall be paid to the county convention and visitors bureau or
promotion fund for the county in which the riverboat is docked.
(4) Except as provided in subsection (k), fifteen cents ($0.15) of
the admissions tax collected by the licensed owner for each
person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to a riverboat during a quarter that has
implemented flexible scheduling under IC 4-33-6-21;
shall be paid to the state fair commission, for use in any activity
that the commission is authorized to carry out under IC 15-1.5-3.
(5) Except as provided in subsection (k), ten cents ($0.10) of the
admissions tax collected by the licensed owner for each person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to a riverboat during the quarter that has
implemented flexible scheduling under IC 4-33-6-21;
shall be paid to the division of mental health and addiction. The
division shall allocate at least twenty-five percent (25%) of the
funds derived from the admissions tax to the prevention and
treatment of compulsive gambling.
(6) Except as provided in subsection (k), sixty-five cents ($0.65)
of the admissions tax collected by the licensed owner for each
person embarking on a gambling excursion during the quarter or
admitted to a riverboat during the quarter that has implemented
flexible scheduling under IC 4-33-6-21 shall be paid to the
Indiana horse racing commission to be distributed as follows, in
amounts determined by the Indiana horse racing commission, for
the promotion and operation of horse racing in Indiana:
(A) To one (1) or more breed development funds established
by the Indiana horse racing commission under IC 4-31-11-10.
(B) To a racetrack that was approved by the Indiana horse
racing commission under IC 4-31. The commission may make
a grant under this clause only for purses, promotions, and
routine operations of the racetrack. No grants shall be made
for long term capital investment or construction and no grants
shall be made before the racetrack becomes operational and is
offering a racing schedule.
(c) With respect to tax revenue collected from a riverboat that
operates on Patoka Lake, the treasurer of state shall quarterly pay the
following amounts:
(1) The counties described in IC 4-33-1-1(3) shall receive one
dollar ($1) of the admissions tax collected for each person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to the riverboat during the quarter (if the
riverboat has implemented flexible scheduling).
This amount shall be divided equally among the counties
described in IC 4-33-1-1(3).
(2) The Patoka Lake development account established under
IC 4-33-15 shall receive one dollar ($1) of the admissions tax
collected for each person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to the riverboat during the quarter (if the
riverboat has implemented flexible scheduling).
(3) The resource conservation and development program that:
(A) is established under 16 U.S.C. 3451 et seq.; and
(B) serves the Patoka Lake area;
shall receive forty cents ($0.40) of the admissions tax collected
for each person embarking on a gambling excursion during the
quarter or admitted to the riverboat during the quarter (if the
riverboat has implemented flexible scheduling).
(4) The state general fund shall receive fifty cents ($0.50) of the
admissions tax collected for each person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to the riverboat during the quarter (if the
riverboat has implemented flexible scheduling).
(5) The division of mental health and addiction shall receive ten
cents ($0.10) of the admissions tax collected for each person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to the riverboat during the quarter (if the
riverboat has implemented flexible scheduling).
The division shall allocate at least twenty-five percent (25%) of
the funds derived from the admissions tax to the prevention and
treatment of compulsive gambling.
(d) With respect to tax revenue collected from a riverboat that
operates from a county having a population of more than four hundred
thousand (400,000) but less than seven hundred thousand (700,000),
the treasurer of state shall quarterly pay the following amounts:
(1) Except as provided in subsection (k), one dollar ($1) of the
admissions tax collected by the licensed owner for each person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to a riverboat during the quarter that has
implemented flexible scheduling under IC 4-33-6-21;
shall be paid to the city in which the riverboat is docked.
(2) Except as provided in subsection (k), one dollar ($1) of the
admissions tax collected by the licensed owner for each person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to a riverboat during the quarter that has
implemented flexible scheduling under IC 4-33-6-21;
shall be paid to the county in which the riverboat is docked.
(3) Except as provided in subsection (k), nine cents ($0.09) of the
admissions tax collected by the licensed owner for each person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to a riverboat during the quarter that has
implemented flexible scheduling under IC 4-33-6-21;
shall be paid to the county convention and visitors bureau or
promotion fund for the county in which the riverboat is docked.
(4) Except as provided in subsection (k), one cent ($0.01) of the
admissions tax collected by the licensed owner for each person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to a riverboat during the quarter that has
implemented flexible scheduling under IC 4-33-6-21;
shall be paid to the northwest Indiana law enforcement training
center.
(5) Except as provided in subsection (k), fifteen cents ($0.15) of
the admissions tax collected by the licensed owner for each
person:
(A) embarking on a gambling excursion during the quarter; or
(B) admitted to a riverboat during a quarter that has
implemented flexible scheduling under IC 4-33-6-21;
shall be paid to the state fair commission for use in any activity
that the commission is authorized to carry out under IC 15-1.5-3.
(6) Except as provided in subsection (k), ten cents ($0.10) of the
admissions tax collected by the licensed owner for each person:
(A) embarking on gambling excursion during the quarter; or
(B) admitted to a a riverboat during the quarter that has
implemented flexible scheduling under IC 4-33-6-21;
shall be paid to the division of mental health and addiction. The
division shall allocate at least twenty-five percent (25%) of the
funds derived from the admissions tax to the prevention and
treatment of compulsive gambling.
(7) Except as provided in subsection (k), sixty-five cents ($0.65)
of the admissions tax collected by the licensed owner for each
person embarking on a gambling excursion during the quarter or
admitted to a riverboat during the quarter that has implemented
flexible scheduling under IC 4-33-6-21 shall be paid to the
Indiana horse racing commission to be distributed as follows, in
amounts determined by the Indiana horse racing commission, for
the promotion and operation of horse racing in Indiana:
(A) To one (1) or more breed development funds established
by the Indiana horse racing commission under IC 4-31-11-10.
(B) To a racetrack that was approved by the Indiana horse
racing commission under IC 4-31. The commission may make
a grant under this clause only for purses, promotions, and
routine operations of the racetrack. No grants shall be made
for long term capital investment or construction, and no grants
shall be made before the racetrack becomes operational and is
offering a racing schedule.
(e) Money paid to a unit of local government under subsection
(b)(1) through (b)(2), (c)(1), or (d)(1) through (d)(2):
(1) must be paid to the fiscal officer of the unit and may be
deposited in the unit's general fund or riverboat fund established
under IC 36-1-8-9, or both;
(2)
may not be used to reduce the unit's maximum levy under
IC 6-1.1-18.5, but may be used at the discretion of the unit to
reduce the property tax levy of the unit for a particular year;
(3) may be used for any legal or corporate purpose of the unit,
including the pledge of money to bonds, leases, or other
obligations under IC 5-1-14-4; and
(4) is considered miscellaneous revenue.
(f) Money paid by the treasurer of state under subsection (b)(3) or
(d)(3) shall be:
(1) deposited in:
(A) the county convention and visitor promotion fund; or
(B) the county's general fund if the county does not have a
convention and visitor promotion fund; and
(2) used only for the tourism promotion, advertising, and
economic development activities of the county and community.
(g) Money received by the division of mental health and addiction
under subsections (b)(5), (c)(5), and (d)(6):
(1) is annually appropriated to the division of mental health and
addiction;
(2) shall be distributed to the division of mental health and
addiction at times during each state fiscal year determined by the
budget agency; and
(3) shall be used by the division of mental health and addiction
for programs and facilities for the prevention and treatment of
addictions to drugs, alcohol, and compulsive gambling, including
the creation and maintenance of a toll free telephone line to
provide the public with information about these addictions. The
division shall allocate at least twenty-five percent (25%) of the
money received to the prevention and treatment of compulsive
gambling.
(h) This subsection applies to the following:
(1) Each entity receiving money under subsection (b).
(2) Each entity receiving money under subsection (d)(1) through
(d)(2).
(3) Each entity receiving money under subsection (d)(5) through
(d)(7).
The treasurer of state shall determine the total amount of money paid
by the treasurer of state to an entity subject to this subsection during
the state fiscal year 2002. The amount determined under this subsection
is the base year revenue for each entity subject to this subsection. The
treasurer of state shall certify the base year revenue determined under
this subsection to each entity subject to this subsection.
(i) This subsection applies to an entity receiving money under
subsection (d)(3) or (d)(4). The treasurer of state shall determine the
total amount of money paid by the treasurer of state to the entity
described in subsection (d)(3) during state fiscal year 2002. The
amount determined under this subsection multiplied by nine-tenths
(0.9) is the base year revenue for the entity described in subsection
(d)(3). The amount determined under this subsection multiplied by
one-tenth (0.1) is the base year revenue for the entity described in
subsection (d)(4). The treasurer of state shall certify the base year
revenue determined under this subsection to each entity subject to this
subsection.
(j) For state fiscal years beginning after June 30, 2002, the total
amount of money distributed to an entity under this section during a
state fiscal year may not exceed the entity's base year revenue as
determined under subsection (h) or (i). If the treasurer of state
determines that the total amount of money distributed to an entity under
this section during a state fiscal year is less than the entity's base year
revenue, the treasurer of state shall make a supplemental distribution
to the entity under IC 4-33-13-5(f).
(k) For state fiscal years beginning after June 30, 2002, the treasurer
of state shall pay that part of the riverboat admissions taxes that:
(1) exceed a particular entity's base year revenue; and
(2) would otherwise be due to the entity under this section;
to the property tax replacement fund instead of to the entity.
SOURCE: IC 4-33-13-5; (03)IN1300.1.4. -->
SECTION 4. IC 4-33-13-5, AS AMENDED BY P.L.192-2002(ss),
SECTION 26, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 5.
(a) After funds are appropriated under
section 4 of this chapter, each month the treasurer of state shall
distribute the tax revenue deposited in the state gaming fund under this
chapter to the following:
(1) The first thirty-three million dollars ($33,000,000) of tax
revenues collected under this chapter shall be set aside for
revenue sharing under subsection (d).
(2) Subject to subsection (b), twenty-five percent (25%) of the
remaining tax revenue remitted by each licensed owner shall be
paid:
(A) to the city that is designated as the home dock of the
riverboat from which the tax revenue was collected, in the case
of:
(i) a city described in IC 4-33-12-6(b)(1)(A); or
(ii) a city located in a county having a population of more
than four hundred thousand (400,000) but less than seven
hundred thousand (700,000);
(B) in equal shares to the counties described in IC 4-33-1-1(3),
in the case of a riverboat whose home dock is on Patoka Lake;
or
(C) to the county that is designated as the home dock of the
riverboat from which the tax revenue was collected, in the case
of a riverboat whose home dock is not in a city described in
clause (A) or a county described in clause (B).
(3) Subject to subsection (c), the remainder of the tax revenue
remitted by each licensed owner shall be paid to the property tax
replacement fund.
(b) For each city and county receiving money under subsection
(a)(2)(A) or (a)(2)(C), the treasurer of state shall determine the total
amount of money paid by the treasurer of state to the city or county
during the state fiscal year 2002. The amount determined is the base
year revenue for the city or county. The treasurer of state shall certify
the base year revenue determined under this subsection to the city or
county. The total amount of money distributed to a city or county under
this section during a state fiscal year may not exceed the entity's base
year revenue. For each state fiscal year beginning after June 30, 2002,
the treasurer of state shall pay that part of the riverboat wagering taxes
that:
(1) exceeds a particular city or county's base year revenue; and
(2) would otherwise be due to the city or county under this
section;
to the property tax replacement fund instead of to the city or county.
(c) Each state fiscal year the treasurer of state shall transfer from the
tax revenue remitted to the property tax replacement fund under
subsection (a)(3) to the build Indiana fund an amount that when added
to the following may not exceed two hundred fifty million dollars
($250,000,000):
(1) Surplus lottery revenues under IC 4-30-17-3.
(2) Surplus revenue from the charity gaming enforcement fund
under IC 4-32-10-6.
(3) Tax revenue from pari-mutuel wagering under IC 4-31-9-3.
The treasurer of state shall make transfers on a monthly basis as needed
to meet the obligations of the build Indiana fund. If in any state fiscal
year insufficient money is transferred to the property tax replacement
fund under subsection (a)(3) to comply with this subsection, the
treasurer of state shall reduce the amount transferred to the build
Indiana fund to the amount available in the property tax replacement
fund from the transfers under subsection (a)(3) for the state fiscal year.
(d) Before August 15 of 2003 and each year thereafter, the treasurer
of state shall distribute the wagering taxes set aside for revenue sharing
under subsection (a)(1) to the county treasurer of each county that does
not have a riverboat according to the ratio that the county's population
bears to the total population of the counties that do not have a
riverboat. The county treasurer shall distribute the money received by
the county under this subsection as follows:
(1) To each city located in the county according to the ratio the
city's population bears to the total population of the county.
(2) To each town located in the county according to the ratio the
town's population bears to the total population of the county.
(3) After the distributions required in subdivisions (1) and (2) are
made, the remainder shall be retained by the county.
(e) Money received by a city, town, or county under subsection (d)
may be used only:
(1) to reduce the property tax levy of the city, town, or county for
a particular year; (a property tax reduction under this subdivision
does not reduce the maximum levy of the city, town, or county
under IC 6-1.1-18.5);
(2) for deposit in a special fund or allocation fund created under
IC 8-22-3.5, IC 36-7-14, IC 36-7-14.5, IC 36-7-15.1, and
IC 36-7-30 to provide funding for additional credits for property
tax replacement in property tax increment allocation areas;
(3) to fund sewer and water projects, including storm water
management projects; or
(4) for police and fire pensions.
However, not more than twenty percent (20%) of the money received
under subsection (d) may be used for the purpose described in
subdivision (4).
(f) Before September 15 of 2003 and each year thereafter, the
treasurer of state shall determine the total amount of money distributed
to an entity under IC 4-33-12-6 during the preceding state fiscal year.
If the treasurer of state determines that the total amount of money
distributed to an entity under IC 4-33-12-6 during the preceding state
fiscal year was less than the entity's base year revenue (as determined
under IC 4-33-12-6), the treasurer of state shall make a supplemental
distribution to the entity from taxes collected under this chapter and
deposited into the property tax replacement fund. The amount of the
supplemental distribution is equal to the difference between the entity's
base year revenue (as determined under IC 4-33-12-6) and the total
amount of money distributed to the entity during the preceding state
fiscal year under IC 4-33-12-6.
SOURCE: IC 4-33-13-6; (03)IN1300.1.5. -->
SECTION 5. IC 4-33-13-6 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JANUARY 1, 2004]: Sec. 6. (a) Money paid
to a unit of local government under this chapter:
(1) must be paid to the fiscal officer of the unit and may be
deposited in the unit's general fund or riverboat fund established
under IC 36-1-8-9, or both;
(2) may not be used to reduce the unit's maximum or actual levy
under IC 6-1.1-18.5; and
(3) (2) may be used for any legal or corporate purpose of the unit,
including the pledge of money to bonds, leases, or other
obligations under IC 5-1-14-4.
(b) This chapter does not prohibit the city or county designated as
the home dock of the riverboat from entering into agreements with
other units of local government in Indiana or in other states to share the
city's or county's part of the tax revenue received under this chapter.
SOURCE: IC 5-10.3-11-4; (03)IN1300.1.6. -->
SECTION 6. IC 5-10.3-11-4, AS AMENDED BY P.L.38-2001,
SECTION 1, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 4. (a) Monies from the pension relief fund
shall be paid annually by the state board under the procedures specified
in this section.
(b) Before April 1 of each year, each unit of local government must
certify to the state board:
(1) the amount of payments made during the preceding year for
benefits under its pension funds covered by this chapter, referred
to in this section as "pension payments";
(2) the data determined necessary by the state board to perform an
actuarial valuation of the unit's pension funds covered by this
chapter; and
(3) the names required to prepare the list specified in subsection
(c).
A unit is ineligible to receive a distribution under this section if it does
not supply before April 1 of each year (i) the complete information
required by this subsection; or (ii) a substantial amount of the
information required if it is accompanied by an affidavit of the chief
executive officer of the unit detailing the steps which have been taken
to obtain the information and the reasons the complete information has
not been obtained. This subsection supersedes the reporting
requirement of IC 5-10-1.5 as it applies to pension funds covered by
this chapter.
(c) Before July 1 of each year, the state board shall prepare a list of
all police officers and firefighters, active, retired, and deceased if their
beneficiaries are eligible for benefits, who are members of a police or
fire pension fund that was established before May 1, 1977. The list may
not include police officers, firefighters, or their beneficiaries for whom
no future benefits will be paid. The state board shall then compute the
present value of the accrued liability to provide the pension and other
benefits to each person on the list.
(d) Before July 1 of each year, the state board shall determine the
total pension payments made by all units of local government for the
preceding year and shall estimate the total pension payments to be
made to all units in the calendar year in which the July 1 occurs and in
the following calendar year.
(e) Each calendar year, the state board shall, with respect to the
following calendar year, determine for each unit of local government
an amount (Dy). The state board shall, in two (2) equal installments
before July 1 and before October 2, distribute to each eligible unit of
local government the amount (Dy) determined for the unit with respect
to the following calendar year. The amount (Dy) shall be determined by
the following STEPS:
STEP ONE. Subtract the total distribution made to units (Dy-1) in the
preceding calendar year from the total pension payments made by units
(Py-1) in the preceding calendar year.
STEP TWO. Multiply the STEP ONE difference by (1+k) as (k) is
determined in STEP THREE.
STEP THREE. Determine the annual percentage increase (k) in the
STEP ONE difference which will allow the present value of all future
estimated distributions, as computed under STEP FOUR, from the
pension relief fund to equal the "k portion" of the pension relief fund
balance plus the present value of all future receipts to the "k portion"
of the fund, but which will not allow the "k portion" of the pension
relief fund balance to be negative. These present values shall be
determined based on the current long term actuarial assumptions. The
"k portion" of the pension relief fund balance is the total pension relief
fund balance less the "m portion" of the fund. The percentage increase
(k) shall be computed to the nearest one thousandth of one percent
(.001%). All years, after the year 2000, in which the receipts to the
fund plus the net pension payments by all the units equal or exceed the
total pension payments shall be ignored for the purposes of these
calculations.
STEP FOUR. Subtract the STEP TWO product from the estimated
total pension payments to be made by all units (P
y) in the calendar year
for which the distribution is to be made.
STEP FIVE. Multiply the STEP FOUR difference by one-half (½)
of the sum of two quotients, (1) the quotient of the unit's number of
police officers and firefighters on December 31 of the year before the
year of the distribution who are members of a pension fund established
before May 1, 1977, who are retired, and who are deceased if their
beneficiaries are eligible for benefits (unit) divided by the total number
of these police officers and firefighters (total units) on December 31 of
the year before the year of the distribution in all units plus (2) the
quotient of the unit's pension payments (payments) divided by the total
pension payments (total payments) by all units.
Expressed mathematically:
D
y = (P
y - ((P
y-1 - D
y-1) x (1 + k))) x ½
(unit/(total unit) + payment/(total payment)).
(f) If in any year the distribution made to a unit of local government
is larger than the unit's pension payments to its retirees and their
beneficiaries for that year, the excess may not be distributed to the unit
but must be transferred to the 1977 police officers' and firefighters'
pension and disability fund and the unit's contributions to that fund
shall be reduced for that year by the amount of the transfer.
(g) If in any year after 2000, the STEP FOUR difference under
subsection (e) is smaller than the revenue to the pension relief fund in
that year, then the revenue plus interest plus the fund balance in that
year shall be used in STEP FIVE of subsection (e) instead of the STEP
FOUR difference.
(h) The state board shall have its actuary report annually on the
appropriateness of the actuarial assumptions used in determining the
distribution amount under subsection (e). At least every five (5) years,
the state board shall have its actuary recompute the value of (k) under
STEP TWO of subsection (e).
(i) Each calendar year the state board shall determine the amounts
to be allocated to the "m portion" of the pension relief fund under the
following STEPS, which shall be completed before July 1 of each year:
STEP ONE. The state board shall determine the following:
(1) "Excess earnings", which are the state board's projection of
earnings for the calendar year from investments of the "k portion" of
the fund that exceed the amount of earnings that would have been
earned if the rate of earnings was the rate assumed by the actuary of the
state board in his calculation of (k) under STEP THREE of subsection
(e).
(2) "Prior deficit amount", which is:
(A) the amount of earnings that would have been earned under
the rate assumed by the actuary of the state board in his
calculation of (k) under STEP THREE of subsection (e);
minus
(B) the amount of earnings received;
for a calendar year after 1981 in which (B) is less than (A).
STEP TWO. The state board shall distribute to the "m portion" the
excess earnings less any prior deficit amounts.
(j) The "m portion" of the fund shall be any direct allocations plus:
(1) amounts allocated under subsection (i); and
(2) any earnings on the "m portion" less amounts previously
distributed under subsection (l).
(k) The state board shall determine, based on actual experience and
reasonable projections, the units eligible for distribution from the "m
portion" of the pension relief fund according to the following STEPS:
STEP ONE. Determine the amount of pension payments to be paid
by the unit in the calendar year, net of the amount of the distribution to
be received by the unit under subsection (e) in that year, plus
contributions to be made under IC 36-8-8 in that year.
STEP TWO. Divide the amount determined under STEP ONE by
the amount of the
maximum permissible ad valorem property tax levy
for the unit
as determined under IC 6-1.1-18.5 for the calendar year.
STEP THREE. If the quotient determined under STEP TWO is
equal to or greater than one-tenth (0.1), the unit shall receive a
distribution under subsection (l).
(l) For a calendar year, the state board shall, before July 1 of the
year, distribute from the "m portion" of the pension relief fund to the
extent there are assets in the "m portion" to each eligible unit an
amount, not less than zero (0), determined according to the following
STEPS:
STEP ONE. For the first of consecutive years that a unit is eligible
to receive a distribution under this subsection, determine the amount
of pension payments paid by the unit in the calendar year two (2) years
preceding the calendar year net of the amount of distributions received
by the unit under subsection (e) in the calendar year two (2) years
preceding the calendar year.
STEP TWO. For the first of consecutive years that a unit is eligible
to receive a distribution under this subsection, divide the amount
determined under STEP ONE by the amount of the
maximum
permissible ad valorem property tax levy for the unit
as determined
under IC 6-1.1-18.5 for the calendar year two (2) years preceding the
calendar year.
STEP THREE. For the first and all subsequent consecutive years
that a unit is eligible to receive a distribution under this subsection,
multiply the amount of the maximum permissible ad valorem property
tax levy for the unit as determined under IC 6-1.1-18.5 for the calendar
year by the quotient determined under STEP TWO.
STEP FOUR. Subtract the amount determined under STEP THREE
from the amount of pension payments to be paid by the unit in the
calendar year, net of distributions to be received under subsection (e)
for the calendar year.
SOURCE: IC 6-1.1-1-3; (03)IN1300.1.7. -->
SECTION 7. IC 6-1.1-1-3, AS AMENDED BY P.L.291-2001,
SECTION 204, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2004]: Sec. 3. (a) Except as provided in
subsection (b), "assessed value" or "assessed valuation" means an
amount equal to:
(1) for assessment dates before March 1, 2001, thirty-three and
one-third percent (33 1/3%) of the true tax value of property; and
(2) for assessment dates after February 28, 2001, the true tax
value of property.
(b) For purposes of calculating a budget, rate, or levy under
IC 6-1.1-17, IC 6-1.1-18, IC 6-1.1-18.5, IC 6-1.1-19, IC 6-1.1-20,
IC 21-2-11.5, and IC 21-2-15, "assessed value" or "assessed valuation"
does not include the assessed value of tangible property excluded and
kept separately on a tax duplicate by a county auditor under
IC 6-1.1-17-0.5.
SOURCE: IC 6-1.1-17-6; (03)IN1300.1.8. -->
SECTION 8. IC 6-1.1-17-6, AS AMENDED BY P.L.178-2001,
SECTION 3, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 6. (a) The county board of tax adjustment
shall review the budget, tax rate, and tax levy of each political
subdivision filed with the county auditor under section 5 or 5.6 of this
chapter. The board shall revise or reduce, but not increase, any budget,
tax rate, or tax levy in order
(1) to limit the tax rate to the maximum amount permitted under
IC 6-1.1-18; and
(2) to limit the budget to the amount of revenue to be available in
the ensuing budget year for the political subdivision.
(b) The county board of tax adjustment shall make a revision or
reduction in a political subdivision's budget only with respect to the
total amounts budgeted for each office or department within each of the
major budget classifications prescribed by the state board of accounts.
(c) When the county board of tax adjustment makes a revision or
reduction in a budget, tax rate, or tax levy, it shall file with the county
auditor a written order which indicates the action taken. If the board
reduces the budget, it shall also indicate the reason for the reduction in
the order. The chairman of the county board shall sign the order.
SOURCE: IC 6-1.1-17-8; (03)IN1300.1.9. -->
SECTION 9. IC 6-1.1-17-8, AS AMENDED BY P.L.90-2002,
SECTION 150, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2004]: Sec. 8. (a) If the county board of
tax adjustment determines that the maximum aggregate tax rate
permitted within a political subdivision under IC 6-1.1-18 is
inadequate, the county board shall subject to the limitations prescribed
in IC 6-1.1-19-2, file its written recommendations in duplicate with the
county auditor. The board shall include with its recommendations:
(1) an analysis of the aggregate tax rate within the political
subdivision;
(2) a recommended breakdown of the aggregate tax rate among
the political subdivisions whose tax rates compose the aggregate
tax rate within the political subdivision; and
(3) any other information which the county board considers
relevant to the matter.
(b) The county auditor shall forward one (1) copy of the county
board's recommendations to the department of local government
finance and shall retain the other copy in the county auditor's office.
The department of local government finance shall, in the manner
prescribed in section 16 of this chapter, review the budgets, tax rates,
and tax levies of the political subdivisions described in subsection
(a)(2).
SOURCE: IC 6-1.1-17-9; (03)IN1300.1.10. -->
SECTION 10. IC 6-1.1-17-9 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JANUARY 1, 2004]: Sec. 9. (a) The county
board of tax adjustment shall complete the duties assigned to it under
this chapter on or before October 1st of each year, except that in a
consolidated city and county and in a county containing a second class
city, the duties of this board need not be completed until November 1
of each year.
(b) If the county board of tax adjustment fails to complete the duties
assigned to it within the time prescribed in this section,
or to reduce
aggregate tax rates so that they do not exceed the maximum rates
permitted under IC 6-1.1-18, the county auditor shall calculate and fix
the tax rate within each political subdivision of the county.
so that the
maximum rate permitted under IC 6-1.1-18 is not exceeded.
(c) When the county auditor calculates and fixes tax rates, he shall
send a certificate notice of the rate he has fixed to each political
subdivision of the county. He shall send these notices within five (5)
days after publication of the notice required by section 12 of this
chapter.
(d) When the county auditor calculates and fixes tax rates, his action
shall be treated as if it were the action of the county board of tax
adjustment.
SOURCE: IC 6-1.1-17-16; (03)IN1300.1.11. -->
SECTION 11. IC 6-1.1-17-16, AS AMENDED BY P.L.90-2002,
SECTION 156, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2004]: Sec. 16. (a) Subject to the
limitations and requirements prescribed in this section, the department
of local government finance may revise, reduce, or increase a political
subdivision's budget, tax rate, or tax levy which the department reviews
under section 8 or 10 of this chapter.
(b) Subject to the limitations and requirements prescribed in this
section, the department of local government finance may review,
revise, reduce, or increase the budget, tax rate, or tax levy of any of the
political subdivisions whose tax rates compose the aggregate tax rate
within a political subdivision whose budget, tax rate, or tax levy is the
subject of an appeal initiated under this chapter.
(c) Except as provided in subsection (i), before the department of
local government finance reviews, revises, reduces, or increases a
political subdivision's budget, tax rate, or tax levy under this section,
the department must hold a public hearing on the budget, tax rate, and
tax levy. The department of local government finance shall hold the
hearing in the county in which the political subdivision is located. The
department of local government finance may consider the budgets, tax
rates, and tax levies of several political subdivisions at the same public
hearing. At least five (5) days before the date fixed for a public hearing,
the department of local government finance shall give notice of the
time and place of the hearing and of the budgets, levies, and tax rates
to be considered at the hearing. The department of local government
finance shall publish the notice in two (2) newspapers of general
circulation published in the county. However, if only one (1)
newspaper of general circulation is published in the county, the
department of local government finance shall publish the notice in that
newspaper.
(d) Except as provided in subsection (h),
IC 6
-1.1-19, or
IC 6-1.1-18.5, the department of local government finance may not
increase a political subdivision's budget, tax rate, or tax levy to an
amount which exceeds the amount originally fixed by the political
subdivision. The department of local government finance shall give the
political subdivision written notification specifying any revision,
reduction, or increase the department proposes in a political
subdivision's tax levy or tax rate. The political subdivision has one (1)
week from the date the political subdivision receives the notice to
provide a written response to the department of local government
finance's Indianapolis office specifying how to make the required
reductions in the amount budgeted for each office or department. The
department of local government finance shall make reductions as
specified in the political subdivision's response if the response is
provided as required by this subsection and sufficiently specifies all
necessary reductions. The department of local government finance may
make a revision, a reduction, or an increase in a political subdivision's
budget only in the total amounts budgeted for each office or department
within each of the major budget classifications prescribed by the state
board of accounts.
(e) The department of local government finance may not approve a
levy for lease payments by a city, town, county, library, or school
corporation if the lease payments are payable to a building corporation
for use by the building corporation for debt service on bonds and if:
(1) no bonds of the building corporation are outstanding; or
(2) the building corporation has enough legally available funds on
hand to redeem all outstanding bonds payable from the particular
lease rental levy requested.
(f) The action of the department of local government finance on a
budget, tax rate, or tax levy is final. The department of local
government finance shall certify its action to:
(1) the county auditor; and
(2) the political subdivision if the department acts pursuant to an
appeal initiated by the political subdivision.
(g) The department of local government finance is expressly
directed to complete the duties assigned to it under this section not later
than February 15th of each year for taxes to be collected during that
year.
(h) Subject to the provisions of all applicable statutes, the
department of local government finance may increase a political
subdivision's tax levy to an amount that exceeds the amount originally
fixed by the political subdivision if the increase is:
(1) requested in writing by the officers of the political
subdivision;
(2) either:
(A) based on information first obtained by the political
subdivision after the public hearing under section 3 of this
chapter; or
(B) results from an inadvertent mathematical error made in
determining the levy; and
(3) published by the political subdivision according to a notice
provided by the department.
(i) The department of local government finance shall annually
review the budget of each school corporation not later than April 1. The
department of local government finance shall give the school
corporation written notification specifying any revision, reduction, or
increase the department proposes in the school corporation's budget. A
public hearing is not required in connection with this review of the
budget.
SOURCE: IC 6-1.1-17-17; (03)IN1300.1.12. -->
SECTION 12. IC 6-1.1-17-17, AS AMENDED BY P.L.90-2002,
SECTION 159, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2004]: Sec. 17. Subject to the limitations
contained in IC 6-1.1-19 and IC 6-1.1-18.5, The department of local
government finance may at any time increase the tax rate and tax levy
of a political subdivision for the following reasons:
(1) To pay the principal or interest upon a funding, refunding, or
judgment funding obligation of a political subdivision.
(2) To pay the interest or principal upon an outstanding obligation
of the political subdivision.
(3) To pay a judgment rendered against the political subdivision.
(4) To pay lease rentals that have become an obligation of the
political subdivision under IC 21-5-11 or IC 21-5-12.
SOURCE: IC 6-1.1-19-1; (03)IN1300.1.13. -->
SECTION 13. IC 6-1.1-19-1 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JANUARY 1, 2004]: Sec. 1. As used in this
chapter, the following terms have the following meanings, unless the
context clearly requires otherwise:
(a) "School year" means the period of time from July 1 of each year
until June 30 of the following year.
(b) "ADA" means, as to any school corporation, the average number
of pupils in daily attendance in the school corporation, determined in
accordance with the rules and regulations established by the Indiana
state board of education.
(c) "Current ADA" means the most recently determined ADA for
the school corporation in question.
(d) With the exception provided for in section 6(b) of this chapter,
"ADA ratio" means, as to any school corporation, the quotient resulting
from a division of that school corporation's current ADA by that school
corporation's ADA for the school year ending in 1973. However, in any
case in which the quotient is less than one (1), the ADA ratio for the
school corporation is one (1).
(e) "General fund" means the fund that the governing body of each
school corporation is required to establish by IC 21-2-11-2.
(f) With the exceptions provided for in sections 4.4(a)(4), 4.5(c),
6(b), and 6(c) of this chapter, "base tax levy" means the total dollar
amount of the ad valorem tax levy for its general fund that was levied
by a school corporation for taxes collectible in 1973, assuming one
hundred percent (100%) tax collection.
(g) "Excessive tax levy" means a school corporation's general fund
ad valorem property tax levy for a calendar year which exceeds the
maximum general fund ad valorem property tax levy permitted under
section 1.5 of this chapter.
(h) "Normal tax levy" means the total dollar amount of any general
fund ad valorem property tax levy that is made by a school corporation
for a calendar year, and that is not an excessive tax levy.
(i) "Tax control board" means the school property tax control board
established by section 4.1 of this chapter.
SOURCE: IC 6-1.1-20-1.1; (03)IN1300.1.14. -->
SECTION 14. IC 6-1.1-20-1.1, AS AMENDED BY P.L.178-2002,
SECTION 30, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 1.1. As used in this chapter, "controlled
project" means any project financed by bonds or a lease, except for the
following:
(1) A project for which the political subdivision reasonably
expects to pay:
(A) debt service; or
(B) lease rentals;
from funds other than property taxes that are were exempt from
the levy limitations of IC 6-1.1-18.5 or IC 6-1.1-19 (before their
repeal). A project is not a controlled project even though the
political subdivision has pledged to levy property taxes to pay the
debt service or lease rentals if those other funds are insufficient.
(2) A project that will not cost the political subdivision more than
two million dollars ($2,000,000).
(3) A project that is being refinanced for the purpose of providing
gross or net present value savings to taxpayers.
(4) A project for which bonds were issued or leases were entered
into before January 1, 1996, or where the state board of tax
commissioners has approved the issuance of bonds or the
execution of leases before January 1, 1996.
(5) A project that is required by a court order holding that a
federal law mandates the project.
SOURCE: IC 6-1.1-20-1.3; (03)IN1300.1.15. -->
SECTION 15. IC 6-1.1-20-1.3 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JANUARY 1, 2004]: Sec. 1.3. As used in
this chapter, "lease" means a lease by a political subdivision of any
controlled project with lease rentals payable from property taxes that
are were exempt from the levy limitations of IC 6-1.1-18.5 or
IC 6-1.1-19 (before their repeal).
SOURCE: IC 6-1.1-21-2; (03)IN1300.1.16. -->
SECTION 16. IC 6-1.1-21-2, AS AMENDED BY P.L.192-2002(ss),
SECTION 39, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 2.
As used in this chapter:
(a) "Taxpayer" means a person who is liable for taxes on property
assessed under this article.
(b) "Taxes" means property taxes payable in respect to property
assessed under this article. The term does not include special
assessments, penalties, or interest, but does include any special charges
which a county treasurer combines with all other taxes in the
preparation and delivery of the tax statements required under
IC 6-1.1-22-8(a).
(c) "Department" means the department of state revenue.
(d) "Auditor's abstract" means the annual report prepared by each
county auditor which under IC 6-1.1-22-5, is to be filed on or before
March 1 of each year with the auditor of state.
(e) "Mobile home assessments" means the assessments of mobile
homes made under IC 6-1.1-7.
(f) "Postabstract adjustments" means adjustments in taxes made
subsequent to the filing of an auditor's abstract which change
assessments therein or add assessments of omitted property affecting
taxes for such assessment year.
(g) "Total county tax levy" means the sum of:
(1) the remainder of:
(A) the aggregate levy of all taxes for all taxing units in a
county which are to be paid in the county for a stated
assessment year as reflected by the auditor's abstract for the
assessment year, adjusted, however, for any postabstract
adjustments which change the amount of the aggregate levy;
minus
(B) the sum of any increases in property tax levies of taxing
units of the county that result from appeals described in:
(i) IC 6-1.1-18.5-13(5) and IC 6-1.1-18.5-13(6)
(before
their repeal) filed after December 31, 1982; plus
(ii) the sum of any increases in property tax levies of taxing
units of the county that result from any other appeals
described in IC 6-1.1-18.5-13
(before its repeal) filed after
December 31, 1983; plus
(iii) IC 6-1.1-18.6-3
(children in need of services and
delinquent children who are wards of the county) (before its
repeal); minus
(C) the total amount of property taxes imposed for the stated
assessment year by the taxing units of the county under the
authority of IC 12-1-11.5 (repealed), IC 12-2-4.5 (repealed),
IC 12-19-5, or IC 12-20-24; minus
(D) the total amount of property taxes to be paid during the
stated assessment year that will be used to pay for interest or
principal due on debt that:
(i) is entered into after December 31, 1983;
(ii) is not debt that is issued under IC 5-1-5 to refund debt
incurred before January 1, 1984; and
(iii) does not constitute debt entered into for the purpose of
building, repairing, or altering school buildings for which
the requirements of IC 20-5-52 were satisfied prior to
January 1, 1984; minus
(E) the amount of property taxes imposed in the county for the
stated assessment year under the authority of IC 21-2-6
(repealed) or any citation listed in IC 6-1.1-18.5-9.8
(before
its repeal) for a cumulative building fund whose property tax
rate was initially established or reestablished for a stated
assessment year that succeeds the 1983 stated assessment year;
minus
(F) the remainder of:
(i) the total property taxes imposed in the county for the
stated assessment year under authority of IC 21-2-6
(repealed) or any citation listed in IC 6-1.1-18.5-9.8
(before
its repeal) for a cumulative building fund whose property
tax rate was not initially established or reestablished for a
stated assessment year that succeeds the 1983 stated
assessment year; minus
(ii) the total property taxes imposed in the county for the
1984 stated assessment year under the authority of IC 21-2-6
(repealed) or any citation listed in IC 6-1.1-18.5-9.8
(before
its repeal) for a cumulative building fund whose property
tax rate was not initially established or reestablished for a
stated assessment year that succeeds the 1983 stated
assessment year; minus
(G) the amount of property taxes imposed in the county for the
stated assessment year under:
(i) IC 21-2-15 for a capital projects fund; plus
(ii) IC 6-1.1-19-10
(before its repeal) for a racial balance
fund; plus
(iii) IC 20-14-13 for a library capital projects fund; plus
(iv) IC 20-5-17.5-3 for an art association fund; plus
(v) IC 21-2-17 for a special education preschool fund; plus
(vi) IC 21-2-11.6 for a referendum tax levy fund; plus
(vii) an appeal filed under IC 6-1.1-19-5.1
(before its
repeal) for an increase in a school corporation's maximum
permissible general fund levy for certain transfer tuition
costs; plus
(viii) an appeal filed under IC 6-1.1-19-5.4
(before its
repeal) for an increase in a school corporation's maximum
permissible general fund levy for transportation operating
costs; minus
(H) the amount of property taxes imposed by a school
corporation that is attributable to the passage, after 1983, of a
referendum for an excessive tax levy under IC 6-1.1-19
(before its repeal), including any increases in these property
taxes that are attributable to the adjustment set forth in
IC 6-1.1-19-1.5(a) STEP ONE
(before its repeal) or any other
law; minus
(I) for each township in the county, the lesser of:
(i) the sum of the amount determined in IC 6-1.1-18.5-19(a)
STEP THREE or IC 6-1.1-18.5-19(b) STEP THREE
(before
their repeal), whichever is applicable, plus the part, if any,
of the township's ad valorem property tax levy for calendar
year 1989 that represents increases in that levy that resulted
from an appeal described in IC 6-1.1-18.5-13(5)
(before its
repeal) filed after December 31, 1982; or
(ii) the amount of property taxes imposed in the township for
the stated assessment year under the authority of
IC 36-8-13-4; minus
(J) for each participating unit in a fire protection territory
established under IC 36-8-19-1, the amount of property taxes
levied by each participating unit under IC 36-8-19-8 and
IC 36-8-19-8.5 less the maximum levy limit for each of the
participating units that would have otherwise been available
for fire protection services under IC 6-1.1-18.5-3 and
IC 6-1.1-18.5-19
(before their repeal) for that same year;
minus
(K) for each county, the sum of:
(i) the amount of property taxes imposed in the county for
the repayment of loans under IC 12-19-5-6 (repealed) that is
included in the amount determined under IC 12-19-7-4(a)
STEP SEVEN for property taxes payable in 1995, or for
property taxes payable in each year after 1995, the amount
determined under IC 12-19-7-4(b); and
(ii) the amount of property taxes imposed in the county
attributable to appeals granted under IC 6-1.1-18.6-3
(before its repeal) that is included in the amount
determined under IC 12-19-7-4(a) STEP SEVEN for
property taxes payable in 1995, or the amount determined
under IC 12-19-7-4(b) for property taxes payable in each
year after 1995; plus
(2) all taxes to be paid in the county in respect to mobile home
assessments currently assessed for the year in which the taxes
stated in the abstract are to be paid; plus
(3) the amounts, if any, of county adjusted gross income taxes that
were applied by the taxing units in the county as property tax
replacement credits to reduce the individual levies of the taxing
units for the assessment year, as provided in IC 6-3.5-1.1; plus
(4) the amounts, if any, by which the maximum permissible ad
valorem property tax levies of the taxing units of the county were
reduced under IC 6-1.1-18.5-3(b) STEP EIGHT (before its
repeal) for the stated assessment year; plus
(5) the difference between:
(A) the amount determined in IC 6-1.1-18.5-3(e) STEP FOUR
(before its repeal); minus
(B) the amount the civil taxing units' levies were increased
because of the reduction in the civil taxing units' base year
certified shares under IC 6-1.1-18.5-3(e) (before its repeal).
(h) "December settlement sheet" means the certificate of settlement
filed by the county auditor with the auditor of state, as required under
IC 6-1.1-27-3.
(i) "Tax duplicate" means the roll of property taxes which each
county auditor is required to prepare on or before March 1 of each year
under IC 6-1.1-22-3.
(j) "Eligible property tax replacement amount" is equal to the sum
of the following:
(1) Sixty percent (60%) of the total county tax levy imposed by
each school corporation in a county for its general fund for a
stated assessment year.
(2) Twenty percent (20%) of the total county tax levy (less sixty
percent (60%) of the levy for the general fund of a school
corporation that is part of the total county tax levy) imposed in a
county on real property for a stated assessment year.
(3) Twenty percent (20%) of the total county tax levy (less sixty
percent (60%) of the levy for the general fund of a school
corporation that is part of the total county tax levy) imposed in a
county on tangible personal property, excluding business personal
property, for an assessment year.
(k) "Business personal property" means tangible personal property
(other than real property) that is being:
(1) held for sale in the ordinary course of a trade or business; or
(2) held, used, or consumed in connection with the production of
income.
(l) "Taxpayer's property tax replacement credit amount" means the
sum of the following:
(1) Sixty percent (60%) of a taxpayer's tax liability in a calendar
year for taxes imposed by a school corporation for its general fund
for a stated assessment year.
(2) Twenty percent (20%) of a taxpayer's tax liability for a stated
assessment year for a total county tax levy (less sixty percent
(60%) of the levy for the general fund of a school corporation that
is part of the total county tax levy) on real property.
(3) Twenty percent (20%) of a taxpayer's tax liability for a stated
assessment year for a total county tax levy (less sixty percent
(60%) of the levy for the general fund of a school corporation that
is part of the total county tax levy) on tangible personal property
other than business personal property.
(m) "Tax liability" means tax liability as described in section 5 of
this chapter.
(n) "General school operating levy" means the ad valorem property
tax levy of a school corporation in a county for the school corporation's
general fund.
SOURCE: IC 6-1.1-21.2-15; (03)IN1300.1.17. -->
SECTION 17. IC 6-1.1-21.2-15, AS ADDED BY P.L.192-2002(ss),
SECTION 44, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 15. (a) A tax levied under this chapter shall
be certified by the department of local government finance to the
auditor of the county in which the district is located and shall be:
(1) estimated and entered upon the tax duplicates by the county
auditor; and
(2) collected and enforced by the county treasurer;
in the same manner as state and county taxes are estimated, entered,
collected, and enforced.
(b) As the tax is collected by the county treasurer, it shall be
transferred to the governing body and accumulated and kept in the
special fund for the allocation area.
(c) A tax levied under this chapter
(1) is exempt from the levy limitations imposed under
IC 6-1.1-18.5; and
(2) is not subject to IC 6-1.1-20.
(d) A tax levied under this chapter and the use of revenues from a
tax levied under this chapter by a governing body do not create a
constitutional or statutory debt, pledge, or obligation of the governing
body, the district, or any unit.
SOURCE: IC 6-1.1-21.5-5; (03)IN1300.1.18. -->
SECTION 18. IC 6-1.1-21.5-5, AS AMENDED BY P.L.291-2001,
SECTION 209, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2004]: Sec. 5. (a) The board shall
determine the terms of a loan made under this chapter. However,
interest may not be charged on the loan, and the loan must be repaid
not later than ten (10) years after the date on which the loan was made.
(b) The loan shall be repaid only from property tax revenues of the
qualified taxing unit. that are subject to the levy limitations imposed by
IC 6-1.1-18.5 or IC 6-1.1-19. The payment of any installment of
principal constitutes a first charge against such property tax revenues
as collected by the qualified taxing unit during the calendar year the
installment is due and payable.
(c) The obligation to repay the loan is not a basis for the qualified
taxing unit to obtain an excessive tax levy under IC 6-1.1-18.5 or
IC 6-1.1-19.
(d) (c) Whenever the board receives a payment on a loan made
under this chapter, the board shall deposit the amount paid in the
counter-cyclical revenue and economic stabilization fund.
(e) (d) This section may not be construed to prevent the qualified
taxing unit from repaying a loan made under this chapter before the
date specified in subsection (a) if a taxpayer described in section 3 of
this chapter resumes paying property taxes to the qualified taxing unit.
SOURCE: IC 6-1.1-21.8-4; (03)IN1300.1.19. -->
SECTION 19. IC 6-1.1-21.8-4, AS ADDED BY P.L.157-2002,
SECTION 1, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 4. (a) The board shall determine the terms
of a loan made under this chapter. However, the interest charged on the
loan may not exceed the percent of increase in the United States
Department of Labor Consumer Price Index for Urban Wage Earners
and Clerical Workers during the most recent twelve (12) month period
for which data is available as of the date that the unit applies for a loan
under this chapter. A loan must be repaid not later than ten (10) years
after the date on which the loan was made. The total amount of all the
loans made under this chapter may not exceed twenty-eight million
dollars ($28,000,000). The board may disburse the proceeds of a loan
in installments. However, not more than one-third (1/3) of the total
amount to be loaned under this chapter may be disbursed at any
particular time without the review of the budget committee and the
approval of the budget agency.
(b) A loan made under this chapter shall be repaid only from:
(1) property tax revenues of the qualified taxing unit; that are
subject to the levy limitations imposed by IC 6-1.1-18.5 or
IC 6-1.1-19; or
(2) any other source of revenues (other than property taxes) that
is legally available to the qualified taxing unit.
The payment of any installment of principal constitutes a first charge
against the property tax revenues described in subdivision (1) that are
collected by the qualified taxing unit during the calendar year the
installment is due and payable.
(c) The obligation to repay a loan made under this chapter is not a
basis for the qualified taxing unit to obtain an excessive tax levy under
IC 6-1.1-18.5 or IC 6-1.1-19.
(d) (c) Whenever the board receives a payment on a loan made
under this chapter, the board shall deposit the amount paid in the
counter-cyclical revenue and economic stabilization fund.
(e) (d) This section does not prohibit a qualified taxing unit from
repaying a loan made under this chapter before the date specified in
subsection (a) if a taxpayer described in section 3 of this chapter
resumes paying property taxes to the qualified taxing unit.
(f) (e) Interest accrues on a loan made under this chapter until the
date the board receives notice from the county auditor that the county
has adopted at least one (1) of the following:
(1) The county adjusted gross income tax under IC 6-3.5-1.1.
(2) The county option income tax under IC 6-3.5-6.
(3) The county economic development income tax under
IC 6-3.5-7.
Notwithstanding subsection (a), interest may not be charged on a loan
made under this chapter if a tax described in this subsection is adopted
before a qualified taxing unit applies for the loan.
SOURCE: IC 6-1.1-29-9; (03)IN1300.1.20. -->
SECTION 20. IC 6-1.1-29-9, AS AMENDED BY P.L.273-1999,
SECTION 57, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 9. (a) A county council may adopt an
ordinance to abolish the county board of tax adjustment. This ordinance
must be adopted by July 1 and may not be rescinded in the year it is
adopted. Notwithstanding IC 6-1.1-17,
IC 6-1.1-18, IC 6-1.1-19,
IC 12-19-7, IC 21-2-14, IC 36-8-6, IC 36-8-7, IC 36-8-7.5, IC 36-8-11,
IC 36-9-3, IC 36-9-4, and IC 36-9-13, if such an ordinance is adopted,
this section governs the treatment of tax rates, tax levies, and budgets
that would otherwise be reviewed by a county board of tax adjustment
under IC 6-1.1-17.
(b) The time requirements set forth in IC 6-1.1-17 govern all filings
and notices.
(c) A tax rate, tax levy, or budget that otherwise would be reviewed
by the county board of tax adjustment is considered and must be treated
for all purposes as if the county board of tax adjustment approved the
tax rate, tax levy, or budget. This includes the notice of tax rates that is
required under IC 6-1.1-17-12.
SOURCE: IC 6-1.1-41-10; (03)IN1300.1.21. -->
SECTION 21. IC 6-1.1-41-10 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JANUARY 1, 2004]: Sec. 10. To provide for
a fund, a political subdivision may levy a tax on all taxable property
within the jurisdiction authorized to establish the fund. The tax may not
exceed the tax rate specified in the statute authorizing the fund.
SOURCE: IC 6-3.5-1.1-2.5; (03)IN1300.1.22. -->
SECTION 22. IC 6-3.5-1.1-2.5, AS AMENDED BY P.L.90-2002,
SECTION 289, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2004]: Sec. 2.5. (a) This section applies
only to a county having a population of more than forty-one thousand
(41,000) but less than forty-three thousand (43,000).
(b) The county council of a county described in subsection (a) may,
by ordinance, determine that additional county adjusted gross income
tax revenue is needed in the county to fund the operation and
maintenance of a jail and juvenile detention center opened after July 1,
1998.
(c) Notwithstanding section 2 of this chapter, if the county council
adopts an ordinance under subsection (b), the county council may
impose the county adjusted gross income tax at a rate of one and
one-tenth percent (1.1%) on adjusted gross income. However, a county
may impose the county adjusted gross income tax at a rate of one and
one-tenth percent (1.1%) for only eight (8) years. After the county has
imposed the county adjusted gross income tax at a rate of one and
one-tenth percent (1.1%) for eight (8) years, the rate is reduced to one
percent (1%). If the county council imposes the county adjusted gross
income tax at a rate of one and one-tenth percent (1.1%), the county
council may decrease the rate or rescind the tax in the manner provided
under this chapter.
(d) If a county imposes the county adjusted gross income tax at a
rate of one and one-tenth percent (1.1%) under this section, the revenue
derived from a tax rate of one-tenth percent (0.1%) on adjusted gross
income:
(1) shall be paid to the county treasurer;
and
(2) may be used only to pay the costs of operating a jail and
juvenile detention center opened after July 1, 1998. and
(3) may not be considered by the department of local government
finance in determining the county's maximum permissible
property tax levy limit under IC 6-1.1-18.5.
SOURCE: IC 6-3.5-1.1-2.7; (03)IN1300.1.23. -->
SECTION 23. IC 6-3.5-1.1-2.7, AS AMENDED BY P.L.1-2002,
SECTION 3 AND P.L.90-2002, SECTION 290, IS AMENDED TO
READ AS FOLLOWS [EFFECTIVE JANUARY 1, 2004]: Sec. 2.7. (a)
This section applies to a county having a population of more than
seventy-one thousand (71,000) but less than seventy-one thousand four
hundred (71,400).
(b) The county council may, by ordinance, determine that additional
county adjusted gross income tax revenue is needed in the county to:
(1) finance, construct, acquire, improve, renovate, or equip the
county jail and related buildings and parking facilities, including
costs related to the demolition of existing buildings and the
acquisition of land; and
(2) repay bonds issued, or leases entered into, for constructing,
acquiring, improving, renovating, and equipping the county jail
and related buildings and parking facilities, including costs
related to the demolition of existing buildings and the acquisition
of land.
(c) In addition to the rates permitted by section 2 of this chapter, the
county council may impose the county adjusted gross income tax at a
rate of:
(1) fifteen-hundredths percent (0.15%);
(2) two-tenths percent (0.2%); or
(3) twenty-five hundredths percent (0.25%);
on the adjusted gross income of county taxpayers if the county council
makes the finding and determination set forth in subsection (b). The tax
imposed under this section may be imposed only until the later of the
date on which the financing on, acquisition, improvement, renovation,
and equipping described in subsection (b) is completed or the date on
which the last of any bonds issued or leases entered into to finance the
construction, acquisition, improvement, renovation, and equipping
described in subsection (b) are fully paid. The term of the bonds issued
(including any refunding bonds) or a lease entered into under
subsection (b)(2) may not exceed twenty (20) years.
(d) If the county council makes a determination under subsection
(b), the county council may adopt a tax rate under subsection (c). The
tax rate may not be imposed at a rate greater than is necessary to pay
the costs of financing, acquiring, improving, renovating, and equipping
the county jail and related buildings and parking facilities, including
costs related to the demolition of existing buildings and the acquisition
of land.
(e) The county treasurer shall establish a county jail revenue fund
to be used only for purposes described in this section. County adjusted
gross income tax revenues derived from the tax rate imposed under this
section shall be deposited in the county jail revenue fund before
making a certified distribution under section 11 of this chapter.
(f) County adjusted gross income tax revenues derived from the tax
rate imposed under this section:
(1) may only be used for the purposes described in this section;
(2) may not be considered by the department of local government
finance in determining the county's maximum permissible
property tax levy limit under IC 6-1.1-18.5; and
(3) (2) may be pledged to the repayment of bonds issued, or leases
entered into, for purposes described in subsection (b).
(g) A county described in subsection (a) possesses unique economic
development challenges due to underemployment in relation to
similarly situated counties. Maintaining low property tax rates is
essential to economic development and the use of county adjusted
gross income tax revenues as provided in this chapter to pay any bonds
issued or leases entered into to finance the construction, acquisition,
improvement, renovation, and equipping described under subsection
(b), rather than use of property taxes, promotes that purpose.
(h) Notwithstanding any other law, funds accumulated from the
county adjusted gross income tax imposed under this section after:
(1) the redemption of bonds issued; or
(2) the final payment of lease rentals due under a lease entered
into under this section;
shall be transferred to the county highway fund to be used for
construction, resurfacing, restoration, and rehabilitation of county
highways, roads, and bridges.
SOURCE: IC 6-3.5-1.1-2.8; (03)IN1300.1.24. -->
SECTION 24. IC 6-3.5-1.1-2.8, AS ADDED BY P.L.178-2002,
SECTION 53, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 2.8. (a) This section applies to:
(1) a county having a population of more than one hundred
eighty-two thousand seven hundred ninety (182,790) but less than
two hundred thousand (200,000); and
(2) a county having a population of more than forty-five thousand
(45,000) but less than forty-five thousand nine hundred (45,900).
(b) The county council may, by ordinance, determine that additional
county adjusted gross income tax revenue is needed in the county to:
(1) finance, construct, acquire, improve, renovate, or equip:
(A) jail facilities;
(B) juvenile court, detention, and probation facilities;
(C) other criminal justice facilities; and
(D) related buildings and parking facilities;
located in the county, including costs related to the demolition of
existing buildings and the acquisition of land; and
(2) repay bonds issued or leases entered into for the purposes
described in subdivision (1).
(c) In addition to the rates permitted by section 2 of this chapter, the
county council may impose the county adjusted gross income tax at a
rate of:
(1) fifteen-hundredths percent (0.15%);
(2) two-tenths percent (0.2%); or
(3) twenty-five hundredths percent (0.25%);
on the adjusted gross income of county taxpayers if the county council
makes the finding and determination set forth in subsection (b). The tax
imposed under this section may be imposed only until the later of the
date on which the financing, construction, acquisition, improvement,
renovation, and equipping described in subsection (b) are completed
or the date on which the last of any bonds issued or leases entered into
to finance the construction, acquisition, improvement, renovation, and
equipping described in subsection (b) are fully paid. The term of the
bonds issued (including any refunding bonds) or a lease entered into
under subsection (b)(2) may not exceed twenty (20) years.
(d) If the county council makes a determination under subsection
(b), the county council may adopt a tax rate under subsection (c). The
tax rate may not be imposed at a rate greater than is necessary to pay
the costs of carrying out the purposes described in subsection (b)(1).
(e) The county treasurer shall establish a criminal justice facilities
revenue fund to be used only for purposes described in this section.
County adjusted gross income tax revenues derived from the tax rate
imposed under this section shall be deposited in the criminal justice
facilities revenue fund before making a certified distribution under
section 11 of this chapter.
(f) County adjusted gross income tax revenues derived from the tax
rate imposed under this section:
(1) may be used only for the purposes described in this section;
(2) may not be considered by the department of local government
finance in determining the county's maximum permissible
property tax levy limit under IC 6-1.1-18.5; and
(3) (2) may be pledged to the repayment of bonds issued or leases
entered into for any or all the purposes described in subsection
(b).
(g) Notwithstanding any other law, funds accumulated from the
county adjusted gross income tax imposed under this section after:
(1) the completion of the financing, construction, acquisition,
improvement, renovation, and equipping described in subsection
(b);
(2) the payment or provision for payment of all the costs for
activities described in subdivision (1);
(3) the redemption of bonds issued; and
(4) the final payment of lease rentals due under a lease entered
into under this section;
shall be transferred to the county highway fund to be used for
construction, resurfacing, restoration, and rehabilitation of county
highways, roads, and bridges.
SOURCE: IC 6-3.5-1.1-2.9; (03)IN1300.1.25. -->
SECTION 25. IC 6-3.5-1.1-2.9, AS ADDED BY P.L.178-2002,
SECTION 54, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 2.9. (a) This section applies to a county
having a population of more than twenty-nine thousand (29,000) but
less than thirty thousand (30,000).
(b) The county council may, by ordinance, determine that additional
county adjusted gross income tax revenue is needed in the county to:
(1) finance, construct, acquire, improve, renovate, remodel, or
equip the county jail and related buildings and parking facilities,
including costs related to the demolition of existing buildings, the
acquisition of land, and any other reasonably related costs; and
(2) repay bonds issued or leases entered into for constructing,
acquiring, improving, renovating, remodeling, and equipping the
county jail and related buildings and parking facilities, including
costs related to the demolition of existing buildings, the
acquisition of land, and any other reasonably related costs.
(c) In addition to the rates permitted by section 2 of this chapter, the
county council may impose the county adjusted gross income tax at a
rate of:
(1) fifteen-hundredths percent (0.15%);
(2) two-tenths percent (0.2%); or
(3) twenty-five hundredths percent (0.25%);
on the adjusted gross income of county taxpayers if the county council
makes the finding and determination set forth in subsection (b). The tax
imposed under this section may be imposed only until the later of the
date on which the financing on, acquisition, improvement, renovation,
remodeling, and equipping described in subsection (b) are completed
or the date on which the last of any bonds issued or leases entered into
to finance the construction, acquisition, improvement, renovation,
remodeling, and equipping described in subsection (b) are fully paid.
The term of the bonds issued (including any refunding bonds) or a
lease entered into under subsection (b)(2) may not exceed twenty-five
(25) years.
(d) If the county council makes a determination under subsection
(b), the county council may adopt a tax rate under subsection (b). The
tax rate may not be imposed at a rate greater than is necessary to pay
the costs of financing, acquiring, improving, renovating, remodeling,
and equipping the county jail and related buildings and parking
facilities, including costs related to the demolition of existing
buildings, the acquisition of land, and any other reasonably related
costs.
(e) The county treasurer shall establish a county jail revenue fund
to be used only for purposes described in this section. County adjusted
gross income tax revenues derived from the tax rate imposed under this
section shall be deposited in the county jail revenue fund before
making a certified distribution under section 11 of this chapter.
(f) County adjusted gross income tax revenues derived from the tax
rate imposed under this section:
(1) may be used only for the purposes described in this section;
(2) may not be considered by the department of local government
finance in determining the county's maximum permissible
property tax levy limit under IC 6-1.1-18.5; and
(3) (2) may be pledged to the repayment of bonds issued or leases
entered into for purposes described in subsection (b).
(g) A county described in subsection (a) possesses unique
governmental and economic development challenges due to:
(1) underemployment in relation to similarly situated counties and
the loss of a major manufacturing business;
(2) an increase in property taxes for taxable years after December
31, 2000, for the construction of a new elementary school; and
(3) overcrowding of the county jail, the costs associated with
housing the county's inmates outside the county, and the potential
unavailability of additional housing for inmates outside the
county.
The use of county adjusted gross income tax revenues as provided in
this chapter is necessary for the county to provide adequate jail
capacity in the county and to maintain low property tax rates essential
to economic development. The use of county adjusted gross income tax
revenues as provided in this chapter to pay any bonds issued or leases
entered into to finance the construction, acquisition, improvement,
renovation, remodeling, and equipping described in subsection (b),
rather than the use of property taxes, promotes those purposes.
(h) Notwithstanding any other law, funds accumulated from the
county adjusted gross income tax imposed under this section after:
(1) the redemption of bonds issued; or
(2) the final payment of lease rentals due under a lease entered
into under this section;
shall be transferred to the county highway fund to be used for
construction, resurfacing, restoration, and rehabilitation of county
highways, roads, and bridges.
SOURCE: IC 6-3.5-1.1-3.5; (03)IN1300.1.26. -->
SECTION 26. IC 6-3.5-1.1-3.5, AS AMENDED BY P.L.90-2002,
SECTION 291, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2004]: Sec. 3.5. (a) This section applies
only to a county having a population of more than thirteen thousand
five hundred (13,500) but less than fourteen thousand (14,000).
(b) The county council of a county described in subsection (a) may,
by ordinance, determine that additional county adjusted gross income
tax revenue is needed in the county to fund the operation and
maintenance of a jail and justice center.
(c) Notwithstanding section 2 of this chapter, if the county council
adopts an ordinance under subsection (b), the county council may
impose the county adjusted gross income tax at a rate of one and
three-tenths percent (1.3%) on adjusted gross income. However, a
county may impose the county adjusted gross income tax at a rate of
one and three-tenths percent (1.3%) for only eight (8) years. After the
county has imposed the county adjusted gross income tax at a rate of
one and three-tenths percent (1.3%) for eight (8) years, the rate is
reduced to one percent (1%). If the county council imposes the county
adjusted gross income tax at a rate of one and three-tenths percent
(1.3%), the county council may decrease the rate or rescind the tax in
the manner provided under this chapter.
(d) If a county imposes the county adjusted gross income tax at a
rate of one and three-tenths percent (1.3%) under this section, the
revenue derived from a tax rate of three-tenths percent (0.3%) on
adjusted gross income:
(1) shall be paid to the county treasurer; and
(2) may be used only to pay the costs of operating and
maintaining a jail and justice center. and
(3) may not be considered by the department of local government
finance under any provision of IC 6-1.1-18.5, including the
determination of the county's maximum permissible property tax
levy.
(e) Notwithstanding section 3 of this chapter, the county fiscal body
may adopt an ordinance under this section before June 1.
SOURCE: IC 6-3.5-1.1-3.6; (03)IN1300.1.27. -->
SECTION 27. IC 6-3.5-1.1-3.6, AS ADDED BY P.L.178-2002,
SECTION 55, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2004]: Sec. 3.6. (a) This section applies only to a county
having a population of more than six thousand (6,000) but less than
eight thousand (8,000).
(b) The county council may, by ordinance, determine that additional
county adjusted gross income tax revenue is needed in the county to:
(1) finance, construct, acquire, improve, renovate, or equip the
county courthouse; and
(2) repay bonds issued, or leases entered into, for constructing,
acquiring, improving, renovating, and equipping the county
courthouse.
(c) In addition to the rates permitted under section 2 of this chapter,
the county council may impose the county adjusted gross income tax
at a rate of twenty-five hundredths percent (0.25%) on the adjusted
gross income of county taxpayers if the county council makes the
finding and determination set forth in subsection (b). The tax imposed
under this section may be imposed only until the later of the date on
which the financing on, acquisition, improvement, renovation, and
equipping described in subsection (b) is completed or the date on
which the last of any bonds issued or leases entered into to finance the
construction, acquisition, improvement, renovation, and equipping
described in subsection (b) are fully paid. The term of the bonds issued
(including any refunding bonds) or a lease entered into under
subsection (b)(2) may not exceed twenty-two (22) years.
(d) If the county council makes a determination under subsection
(b), the county council may adopt a tax rate under subsection (b). The
tax rate may not be imposed for a time greater than is necessary to pay
the costs of financing, constructing, acquiring, renovating, and
equipping the county courthouse.
(e) The county treasurer shall establish a county jail revenue fund
to be used only for purposes described in this section. County adjusted
gross income tax revenues derived from the tax rate imposed under this
section shall be deposited in the county jail revenue fund before a
certified distribution is made under section 11 of this chapter.
(f) County adjusted gross income tax revenues derived from the tax
rate imposed under this section:
(1) may only be used for the purposes described in this section;
(2) may not be considered by the department of local government
finance in determining the county's maximum permissible
property tax levy under IC 6-1.1-18.5; and
(3) (2) may be pledged to the repayment of bonds issued or leases
entered into for purposes described in subsection (b).
(g) A county described in subsection (a) possesses unique economic
development challenges due to:
(1) the county's heavy agricultural base;
(2) the presence of a large amount of state owned property in the
county that is exempt from property taxation; and
(3) recent obligations of the school corporation in the county that
have already increased property taxes in the county and imposed
additional property tax burdens on the county's agricultural base.
Maintaining low property tax rates is essential to economic
development. The use of county adjusted gross income tax revenues as
provided in this chapter to pay any bonds issued or leases entered into
to finance the construction, acquisition, improvement, renovation, and
equipping described in subsection (b), rather than the use of property
taxes, promotes that purpose.
(h) Notwithstanding any other law, funds accumulated from the
county adjusted gross income tax imposed under this section after:
(1) the redemption of the bonds issued; or
(2) the final payment of lease rentals due under a lease entered
into under this section;
shall be transferred to the county highway fund to be used for
construction, resurfacing, restoration, and rehabilitation of county
highways, roads, and bridges.
SOURCE: IC 6-3.5-1.1-12; (03)IN1300.1.28. -->
SECTION 28. IC 6-3.5-1.1-12, AS AMENDED BY P.L.90-2002,
SECTION 293, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2004]: Sec. 12. (a) The part of a county's
certified distribution for a calendar year that is to be used as property
tax replacement credits shall be allocated by the county auditor among
the civil taxing units and school corporations of the county.
(b) Except as provided in section 13 of this chapter, the amount of
property tax replacement credits that each civil taxing unit and school
corporation in a county is entitled to receive during a calendar year
equals the product of:
(1) that part of the county's certified distribution that is dedicated
to providing property tax replacement credits for that same
calendar year; multiplied by
(2) a fraction:
(A) The numerator of the fraction equals the sum of the total
property taxes being collected by the civil taxing unit or school
corporation during that calendar year, plus with respect to a
civil taxing unit, the amount of federal revenue sharing funds
and certified shares received by it during that calendar year to
the extent that they are used to reduce its property tax levy
below the lim