IC 6-1.1-20.6-0.5
"Agricultural land"
     Sec. 0.5. As used in this chapter, "agricultural land" refers to land assessed as agricultural land under the real property assessment rules and guidelines of the department of local government finance.
As added by P.L.146-2008, SEC.213.

IC 6-1.1-20.6-1
Repealed
    (Repealed by P.L.146-2008, SEC.811.)

IC 6-1.1-20.6-1.6
"Gross assessed value"
     Sec. 1.6. As used in this chapter, "gross assessed value" refers to the assessed value of property after the application of all exemptions under IC 6-1.1-10 or any other provision.
As added by P.L.146-2008, SEC.214.

IC 6-1.1-20.6-2
"Homestead"
     Sec. 2. (a) As used in this chapter, "homestead" refers to a homestead that is eligible for a standard deduction under IC 6-1.1-12-37.
    (b) The term includes a house or apartment that is owned or leased by a cooperative housing corporation (as defined in 26 U.S.C.

216(b)).
As added by P.L.246-2005, SEC.62. Amended by P.L.146-2008, SEC.215; P.L.182-2009(ss), SEC.151.

IC 6-1.1-20.6-2.3
"Long term care property"
     Sec. 2.3. As used in this chapter, "long term care property" means property that:
        (1) is used for the long term care of an impaired individual; and
        (2) is one (1) of the following:
            (A) A health facility licensed under IC 16-28.
            (B) A housing with services establishment (as defined in IC 12-10-15-3) that is allowed to use the term "assisted living" to describe the housing with services establishment's services and operations to the public.
            (C) An independent living home that, under contractual agreement, serves not more than eight (8) individuals who:
                (i) have a mental illness or developmental disability;
                (ii) require regular but limited supervision; and
                (iii) reside independently of their families.
As added by P.L.146-2008, SEC.216.

IC 6-1.1-20.6-2.4
"Manufactured home"; "mobile home"
     Sec. 2.4. As used in this chapter:
        (1) "manufactured home" has the meaning set forth in IC 22-12-1-16; and
        (2) "mobile home" has the meaning set forth in IC 16-41-27-4.
As added by P.L.146-2008, SEC.217.

IC 6-1.1-20.6-2.5
"Nonresidential real property"
     Sec. 2.5. (a) As used in this chapter, "nonresidential real property" refers to either of the following:
        (1) Real property that:
            (A) is not:
                (i) a homestead; or
                (ii) residential property; and
            (B) consists of:
                (i) a building or other land improvement; and
                (ii) the land, not exceeding the area of the building footprint or improvement footprint, on which the building or improvement is located.
        (2) Undeveloped land in the amount of the remainder of:
            (A) the area of a parcel; minus
            (B) the area of the parcel that is part of:
                (i) a homestead; or
                (ii) residential property.
    (b) The term does not include agricultural land.
As added by P.L.146-2008, SEC.218.

IC 6-1.1-20.6-3.5
Repealed
     (Repealed by P.L.182-2009(ss), SEC.465.)

IC 6-1.1-20.6-4
"Residential property"
     Sec. 4. As used in this chapter, "residential property" refers to real property that consists of any of the following:
        (1) A single family dwelling that is not part of a homestead and the land, not exceeding one (1) acre, on which the dwelling is located.
        (2) Real property that consists of:
            (A) a building that includes two (2) or more dwelling units;
            (B) any common areas shared by the dwelling units; and
            (C) the land, not exceeding the area of the building footprint, on which the building is located.
        (3) Land rented or leased for the placement of a manufactured home or mobile home, including any common areas shared by the manufactured homes or mobile homes.
As added by P.L.246-2005, SEC.62. Amended by P.L.162-2006, SEC.7; P.L.146-2008, SEC.221; P.L.131-2008, SEC.4.

IC 6-1.1-20.6-5
Repealed
    (Repealed by P.L.146-2008, SEC.811.)

IC 6-1.1-20.6-6
Repealed
     (Repealed by P.L.146-2008, SEC.811.)

IC 6-1.1-20.6-6.5
Repealed

IC 6-1.1-20.6-7.5
Calculation of credit
     Sec. 7.5. (a) A person is entitled to a credit against the person's property tax liability for property taxes first due and payable after 2009. The amount of the credit is the amount by which the person's property tax liability attributable to the person's:
        (1) homestead exceeds one percent (1%);
        (2) residential property exceeds two percent (2%);
        (3) long term care property exceeds two percent (2%);

IC 6-1.1-20.6-8
Exemption from filing requirement
     Sec. 8. Except as provided in section 8.5 of this chapter, a person is not required to file an application for the credit under this chapter. The county auditor shall:
        (1) identify the property in the county eligible for the credit under this chapter; and
        (2) apply the credit under this chapter to property tax liability on the identified property.
As added by P.L.246-2005, SEC.62. Amended by P.L.162-2006, SEC.11; P.L.146-2008, SEC.224.

IC 6-1.1-20.6-8.5
Additional credit for certain homesteads; eligibility and filing requirements
     Sec. 8.5. (a) This section applies to an individual who:
        (1) qualified for a standard deduction granted under IC 6-1.1-12-37 for the individual's homestead property in the immediately preceding calendar year (or was married at the time of death to a deceased spouse who qualified for a standard deduction granted under IC 6-1.1-12-37 for the individual's homestead property in the immediately preceding calendar year);
        (2) qualifies for a standard deduction granted under IC 6-1.1-12-37 for the same homestead property in the current calendar year;
        (3) is or will be at least sixty-five (65) years of age on or before

December 31 of the calendar year immediately preceding the current calendar year; and
        (4) had:
            (A) in the case of an individual who filed a single return, adjusted gross income (as defined in Section 62 of the Internal Revenue Code) not exceeding thirty thousand dollars ($30,000); or
            (B) in the case of an individual who filed a joint income tax return with the individual's spouse, combined adjusted gross income (as defined in Section 62 of the Internal Revenue Code) not exceeding forty thousand dollars ($40,000);
        for the calendar year preceding by two (2) years the calendar year in which property taxes are first due and payable.
    (b) This section does not apply if the gross assessed value of the homestead on the assessment date for which property taxes are imposed is at least one hundred sixty thousand dollars ($160,000).
    (c) An individual is entitled to an additional credit under this section for property taxes first due and payable for a calendar year on a homestead if:
        (1) the individual and the homestead qualify for the credit under subsection (a) for the calendar year;
        (2) the homestead is not disqualified for the credit under subsection (b) for the calendar year; and
        (3) the filing requirements under subsection (e) are met.
    (d) The amount of the credit is equal to the greater of zero (0) or the result of:
        (1) the property tax liability first due and payable on the homestead property for the calendar year; minus
        (2) the result of:
            (A) the property tax liability first due and payable on the qualified homestead property for the immediately preceding year after the application of the credit granted under this section for that year; multiplied by
            (B) one and two hundredths (1.02).
However, property tax liability imposed on any improvements to or expansion of the homestead property after the assessment date for which property tax liability described in subdivision (2) was imposed shall not be considered in determining the credit granted under this section in the current calendar year.
    (e) Applications for a credit under this section shall be filed in the manner provided for an application for a deduction under IC 6-1.1-12-9. However, an individual who remains eligible for the credit in the following year is not required to file a statement to apply for the credit in the following year. An individual who receives a credit under this section in a particular year and who becomes ineligible for the credit in the following year shall notify the auditor of the county in which the homestead is located of the individual's ineligibility not later than sixty (60) days after the individual becomes ineligible.
    (f) The auditor of each county shall, in a particular year, apply a

credit provided under this section to each individual who received the credit in the preceding year unless the auditor determines that the individual is no longer eligible for the credit.
As added by P.L.146-2008, SEC.225. Amended by P.L.182-2009(ss), SEC.152; P.L.113-2010, SEC.38.

IC 6-1.1-20.6-9
Repealed
     (Repealed by P.L.146-2008, SEC.810.)

IC 6-1.1-20.6-9.5
Effect of credit on revenues
     Sec. 9.5. (a) This section applies only to credits under this chapter against property taxes first due and payable after December 31, 2006.
    (b) The application of the credit under this chapter results in a reduction of the property tax collections of each political subdivision in which the credit is applied. Except as provided in IC 20-46-1, a political subdivision may not increase its property tax levy to make up for that reduction.
    (c) The county auditor shall in each calendar year notify each political subdivision in which the credit under this chapter is applied of the reduction of property tax collections referred to in subsection (b) for the political subdivision for that year.
    (d) A political subdivision may not borrow money to compensate the political subdivision or any other political subdivision for the reduction of property tax collections referred to in subsection (b).
As added by P.L.162-2006, SEC.13. Amended by P.L.172-2011, SEC.41.

IC 6-1.1-20.6-9.8
Allocation of taxes exempted from credit
     Sec. 9.8. (a) This section applies to property taxes first due and payable after December 31, 2009.
    (b) The following definitions apply throughout this section:
        (1) "Debt service obligations of a political subdivision" refers to:
            (A) the principal and interest payable during a calendar year on bonds; and
            (B) lease rental payments payable during a calendar year on leases;
        of a political subdivision payable from ad valorem property taxes.
        (2) "Protected taxes" refers to the following:
            (A) Property taxes that are exempted from the application of a credit granted under section 7 or 7.5 of this chapter by section 7(b), 7(c), 7.5(b), or 7.5(c) of this chapter or another law.
            (B) Property taxes imposed by a political subdivision to pay for debt service obligations of a political subdivision that are not exempted from the application of a credit granted under

section 7 or 7.5 of this chapter by section 7(b), 7(c), 7.5(b), or 7.5(c) of this chapter or any other law. Property taxes described in this subsection are subject to the credit granted under section 7 or 7.5 of this chapter by section 7(b), 7(c), 7.5(b), or 7.5(c) regardless of their designation as protected taxes.
        (3) "Unprotected taxes" refers to property taxes that are not protected taxes.
    (c) The total amount collected from protected taxes shall be allocated to the fund for which the protected taxes were imposed as if no credit were granted under section 7 or 7.5 of this chapter. The total amount of the loss in revenue resulting from the granting of credits under section 7 or 7.5 of this chapter must reduce only the amount of unprotected property taxes distributed to a fund in proportion to the unprotected rate tax imposed for that fund relative to the total of all unprotected tax rates imposed by the taxing unit.
As added by P.L.172-2011, SEC.42. Amended by P.L.137-2012, SEC.35.

IC 6-1.1-20.6-10
Payment of debt service obligations
     Sec. 10. (a) As used in this section, "debt service obligations of a political subdivision" refers to:
        (1) the principal and interest payable during a calendar year on bonds; and
        (2) lease rental payments payable during a calendar year on leases;
of a political subdivision payable from ad valorem property taxes.
    (b) Political subdivisions are required by law to fully fund the payment of their debt obligations in an amount sufficient to pay any debt service or lease rentals on outstanding obligations, regardless of any reduction in property tax collections due to the application of tax credits granted under this chapter.
    (c) Upon the failure of a political subdivision to pay any of the political subdivision's debt service obligations during a calendar year when due, the treasurer of state, upon being notified of the failure by a claimant, shall pay the unpaid debt service obligations that are due from money in the possession of the state that would otherwise be available for distribution to the political subdivision under any other law, deducting the payment from the amount distributed. A deduction under this subsection must be made:
        (1) first from distributions of county adjusted gross income tax distributions under IC 6-3.5-1.1, county option income tax distributions under IC 6-3.5-6, or county economic development income tax distributions under IC 6-3.5-7 that would otherwise be distributed to the county under the schedule in IC 6-3.5-1.1-10, IC 6-3.5-1.1-21.1, IC 6-3.5-6-16, IC 6-3.5-6-17.3, IC 6-3.5-7-17, and IC 6-3.5-7-17.3; and
        (2) second from any other undistributed funds of the political subdivision in the possession of the state.

IC 6-1.1-20.6-11
Report; effect of circuit breaker on taxing unit revenues
     Sec. 11. The department of local government finance shall annually publish a report on its Internet web site that lists the amount that each taxing unit's distribution of property taxes will be reduced under section 9.5 of this chapter as a result of the granting of the credits.
As added by P.L.146-2008, SEC.227. Amended by P.L.137-2012, SEC.37.

IC 6-1.1-20.6-12
Application of credit of excise tax distribution calculations
     Sec. 12. For purposes of computing and distributing after 2008 any excise taxes or local option income taxes for which the distribution is based on the amount of a taxing unit's property tax levy, the computation and distribution of the excise tax or local option income tax shall be based on the taxing unit's property tax levy as calculated before any reduction due to credits provided to taxpayers under this chapter.
As added by P.L.146-2008, SEC.228.