IN SB0173 | 2011 | Regular Session
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 5 2011 - 25% progression, died in committee
Action: 2011-01-27 - Senator Tomes added as coauthor
Pending: Senate Commerce & Economic Development Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 5 2011 - 25% progression, died in committee
Action: 2011-01-27 - Senator Tomes added as coauthor
Pending: Senate Commerce & Economic Development Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Establishes a 100% property tax deduction for a new home, which includes a newly constructed home or an existing home that has not been previously occupied as a residence. Provides that: (1) the deduction applies only if the contracts for construction or purchase and financing are entered into after June 30, 2011, and before July 1, 2012; (2) the deduction period is five years unless the legislative body of the city, town, or county establishes a period of three or four years; and (3) the owner of the new home must apply to the county auditor for the deduction. Directs the department of local government finance to adopt rules.
Title
Property tax deduction for new homes.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2011-01-27 | Senator Tomes added as coauthor | |
| 2011-01-05 | First reading: referred to Committee on Commerce & Economic Development | |
| 2011-01-05 | Authored by Senator M. Young |
Indiana State Sources
| Type | Source |
|---|---|
| Summary | http://www.in.gov/apps/lsa/session/billwatch/billinfo?year=2011&session=1&request=getBill&doctype=SB&docno=0173 |
| Text | http://www.in.gov/legislative/bills/2011/IN/IN0173.1.html |
