IN SB0046 | 2023 | Regular Session

Status

Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 5-3)
Status: Passed on May 1 2023 - 100% progression
Action: 2023-05-01 - Public Law 95
Text: Latest bill text (Enrolled) [PDF]

Summary

County option circuit breaker tax credit. Authorizes a county fiscal body to adopt an ordinance to provide a credit against property tax liability for qualified individuals. Defines a "qualified individual" for purposes of the credit. Provides that the ordinance may designate: (1) all of the territory of the county; or (2) one or more specific geographic territories within the county; as a neighborhood enhancement district in which qualified individuals may apply for the credit. Provides that the amount of the credit in a particular year is equal to the amount by which an individual's property tax liability increases by more than the percentage of increase specified by the county fiscal body from the prior year. Provides that the credit does not affect the allocation of taxes to a referendum fund. Requires a qualified individual who desires to claim the credit to file a certified statement with the county auditor. Provides that the county auditor shall apply the credit in succeeding years after the certified statement is filed unless the auditor determines that the individual is no longer eligible for the credit or the county fiscal body rescinds the ordinance. Provides a penalty for wrongly receiving the credit that is the same as the penalty for wrongly receiving the homestead standard deduction. Provides that an individual may not receive both a county option circuit breaker tax credit and an over 65 property tax credit in the same year. Provides that an ordinance must specify that the credit does not apply for property taxes first due and payable after December 31, 2027. Sunsets the county option on January 1, 2028.

Tracking Information

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Title

County option circuit breaker tax credit.

Sponsors


Roll Calls

2023-04-10 - Senate - Senate - Senate concurred in House amendments (Y: 48 N: 0 NV: 1 Abs: 1) [PASS]
2023-04-04 - House - House - Third reading (Y: 96 N: 1 NV: 1 Abs: 2) [PASS]
2023-02-06 - Senate - Senate - Third reading (Y: 49 N: 0 NV: 0 Abs: 1) [PASS]

History

DateChamberAction
2023-05-01SenatePublic Law 95
2023-05-01SenateSigned by the Governor
2023-04-26SenateSigned by the President of the Senate
2023-04-21HouseSigned by the Speaker
2023-04-13SenateSigned by the President Pro Tempore
2023-04-10SenateSenate concurred in House amendments; Roll Call 347: yeas 48, nays 0
2023-04-05SenateMotion to concur filed
2023-04-05HouseReturned to the Senate with amendments
2023-04-04HouseThird reading: passed; Roll Call 348: yeas 96, nays 1
2023-04-03HouseSecond reading: ordered engrossed
2023-03-30HouseCommittee report: amend do pass, adopted
2023-02-28HouseFirst reading: referred to Committee on Ways and Means
2023-02-23HouseRepresentative Pryor added as cosponsor
2023-02-23HouseRepresentative Behning added as cosponsor
2023-02-07SenateReferred to the House
2023-02-06SenateCosponsor: Representative GiaQuinta
2023-02-06SenateHouse sponsor: Representative McGuire
2023-02-06SenateThird reading: passed; Roll Call 64: yeas 49, nays 0
2023-02-02SenateSecond reading: ordered engrossed
2023-01-31SenateSenator Randolph added as coauthor
2023-01-31SenateCommittee report: amend do pass, adopted
2023-01-17SenateSenator Buchanan added as third author
2023-01-17SenateSenator Holdman added as second author
2023-01-09SenateFirst reading: referred to Committee on Tax and Fiscal Policy
2023-01-09SenateAuthored by Senator Sandlin

Subjects


Indiana State Sources


Bill Comments

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