Indiana House Bill 1042 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 4 2017 - 25% progression, died in committee
Action: 2017-01-04 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Allocation of circuit breaker credits by schools. Extends the authority for certain school corporations to allocate circuit breaker credits proportionately (without taking protected taxes into account) through 2019. (Under current law, this authority extends only through 2018.) Provides that a school corporation may not allocate circuit breaker credits proportionately if: (1) the school corporation issued new debt in 2017, 2018, or 2019; and (2) the school corporation's debt service levy in 2018 or 2019 is greater than its 2016 debt service levy, and the school corporation's debt service tax rate in 2018 or 2019 is greater than its 2016 debt

Allocation of circuit breaker credits by schools. Extends the authority for certain school corporations to allocate circuit breaker credits proportionately (without taking protected taxes into account) through 2019. (Under current law, this authority extends only through 2018.) Provides that a school corporation may not allocate circuit breaker credits proportionately if: (1) the school corporation issued new debt in 2017, 2018, or 2019; and (2) the school corporation's debt service levy in 2018 or 2019 is greater than its 2016 debt service levy, and the school corporation's debt service tax rate in 2018 or 2019 is greater than its 2016 debt

Rep. Jeffrey Thompson [R]

Date	Chamber	Action
2017-01-04	House	First reading: referred to Committee on Ways and Means
2017-01-04	House	Authored by Representative Thompson

Type	Source
Summary	https://iga.in.gov/legislative/2017/bills/house/1042/details
Text	http://iga.in.gov/static-documents/e/f/e/3/efe33931/HB1042.01.INTR.pdf