First Regular Session 113th General Assembly (2003)


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SENATE ENROLLED JOINT
RESOLUTION No. 5


     A JOINT RESOLUTION proposing an amendment to Article 10, SECTION 1 of the Constitution of the State of Indiana concerning taxation.

Be it resolved by the General Assembly of the State of Indiana:

SOURCE: ; (03)HJ0007.2.1. -->     SECTION 1. The following proposed amendment to the Constitution of the State of Indiana, which was agreed to by the One Hundred Twelfth General Assembly of the State of Indiana and referred to this General Assembly for reconsideration and agreement, is agreed to by this the One Hundred Thirteenth General Assembly of the State of Indiana.
SOURCE: CON 10; (03)SJ9607.2. -->     SECTION 2. ARTICLE 10, SECTION 1 OF THE CONSTITUTION OF THE STATE OF INDIANA IS AMENDED TO READ AS FOLLOWS: Section 1. (a) The General Assembly shall provide, by law, for a uniform and equal rate of property assessment and taxation and shall prescribe regulations to secure a just valuation for taxation of all property, both real and personal. The General Assembly may exempt from property taxation any property in any of the following classes:
        (1) Property being used for municipal, educational, literary, scientific, religious, or charitable purposes.
        (2) Tangible personal property other than property being held for sale in the ordinary course of a trade or business, property being held used or consumed in connection with the production of

income or property being held as an investment.
        (3) Intangible personal property.
         (4) Tangible real property, including curtilage, used as a principal place of residence by an:
            (A) owner of the property;
            (B) individual who is buying the tangible real property under a contract; or
            (C) individual who has a beneficial interest in the owner of the tangible real property.
    (b) The General Assembly may exempt any motor vehicles, mobile homes, airplanes, boats, trailers, or similar property, provided that an excise tax in lieu of the property tax is substituted therefor.


President of the Senate


President Pro Tempore


Speaker of the House of Representatives

    Approved:




Governor of the State of Indiana

SJ 5
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