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-IR- Database: Indiana Register

TITLE 50 DEPARTMENT OF LOCAL GOVERNMENT FINANCE

Economic Impact Statement
LSA Document #12-548


IC 4-22-2.1-5 Statement Concerning Rules Affecting Small Businesses
Estimated Number of Small Businesses Impacted by this Rule:
The Department of Local Government Finance (Department) estimates that no small businesses will be impacted by this rule. The proposed rule amends 50 IAC 26-20-7 and 50 IAC 26-20-8 to require that property tax management systems use file formats for oil and gas assessments so that interest owners of oil and gas properties receive billing statements. The rule itself is "business neutral" in that it should have no direct or indirect effect on business.

Estimated Average Annual Administrative Costs That Small Businesses Will Incur:
The Department estimates that no small businesses will incur additional administrative expenses resulting from this rule because the proposed amendments simply update the file formats for oil and gas assessment data as already prescribed by statute.

Estimated Total Annual Economic Impact on Small Businesses:
The Department estimates that there will be no financial impact on small businesses as a result of this rule. Small businesses will have no additional responsibilities associated with this rule.
Supporting Data, Studies, and Analyses: Because no financial impact is expected as a result of this rule, no supporting data, studies, or analyses were relied upon by the agency in its determination.

Justification of Requirement or Cost:
IC 6-1.1-31.5 requires that the Department adopt rules for a uniform property tax management system. The Department prescribes file formats in 50 IAC 26-20 to ensure that property tax data is collected, stored, analyzed, and shared uniformly and without cost to counties or vendors. This rule also affects the delivery of tax billing statements to property owners. The Department finds amendments to this rule necessary to facilitate the billing process for oil and gas property assessments.

Regulatory Flexibility Analysis of Alternative Methods:
The purpose of the rule is simply to provide that interest owners of oil and gas properties receive tax billing statements for oil and gas assessments. Thus, the Department did not conduct a regulatory flexibility analysis of alternative methods. Additionally, because no financial impact is expected as a result of compliance with this rule, neither less stringent nor more simplified requirements are necessary for this rule.
Supporting Data, Studies, and Analyses: Because of the nature of the rule, no supporting data, studies, or analyses were conducted.

Posted: 11/28/2012 by Legislative Services Agency

DIN: 20121128-IR-050120548EIA
Composed: Sep 17,2014 4:06:07PM EDT
A PDF version of this document.