IN HJR0001 | 2010 | Regular Session

Status

Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Passed on March 25 2010 - 100% progression
Action: 2010-03-25 - Public Law 116
Text: Latest bill text (Introduced) [HTML]

Summary

Requires, for property taxes first due and payable in 2012 and thereafter, the general assembly to limit a taxpayer's property tax liability as follows: (1) A taxpayer's property tax liability on homestead property may not exceed 1% of the gross assessed value of the homestead property. (2) A taxpayer's property tax liability on other residential property may not exceed 2% of the gross assessed value of the other residential property. (3) A taxpayer's property tax liability on agricultural land may not exceed 2% of the gross assessed value of the property that is the basis for the determination of the agricultural land. (4) A taxpayer's property tax liability on other real property may not exceed 3% of the gross assessed value of the other real property. (5) A taxpayer's property tax liability on personal property may not exceed 3% of the gross assessed value of the taxpayer's personal property that is the basis for the determination of property taxes within a particular taxing district. Specifies that property taxes imposed after being approved by the voters in a referendum shall not be considered for purposes of calculating the limits to property tax liability under these provisions. Provides that in the case of a county for which the general assembly determines in 2008 that limits to property tax liability are expected to reduce in 2010 the aggregate property tax revenue that would otherwise be collected by all units and school corporations in the county by at least 20%, the general assembly may provide that property taxes imposed in the county to pay debt service or make lease payments for bonds or leases issued or entered into before July 1, 2008, shall not be considered for purposes of calculating the limits to property tax.

Tracking Information

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Title

Circuit breakers and other property tax matters.

Sponsors


History

DateChamberAction
2010-03-25 Public Law 116
2010-03-08 Signed by the President of the Senate
2010-03-03 Signed by the President Pro Tempore
2010-03-02 Signed by the Speaker
2010-01-19 Senator Mrvan added as cosponsor
2010-01-19 Returned to the House without amendments
2010-01-19 Third reading: passed; Roll Call 13: Yeas 35 and Nays 15
2010-01-14 Second reading: ordered engrossed
2010-01-13 Representatives Reske, Herrell and Turner added as coauthors
2010-01-12 Committee report: do pass, adopted
2010-01-11 First reading: referred to Committee on Tax and Fiscal Policy
2010-01-11 Senate sponsors: Senators Kenley, Miller and Hershman
2010-01-11 Referred to the Senate
2010-01-11 Third reading: passed; Roll Call 10: Yeas 75, Nays 23
2010-01-07 Amendment 2 (Michael), withdrawn
2010-01-07 Amendment 3 (Fry), failed; Roll Call 6: Yeas 15, Nays 83
2010-01-07 Amendment 1 (Crawford), failed; Roll Call 5: Yeas 30, Nays 69
2010-01-07 Second reading: ordered engrossed
2010-01-05 Committee report: do pass, adopted
2009-11-17 First reading: referred to Committee on Ways and Means
2009-11-17 Authored by Representative Crawford

Indiana State Sources


Bill Comments

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