Bill Text: IN HB1539 | 2011 | Regular Session | Amended
Bill Title: Marion County COIT.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Passed) 2011-05-16 - Effective 07/01/2011 [HB1539 Detail]
Download: Indiana-2011-HB1539-Amended.html
Citations Affected: IC 6-3.5; IC 36-3.
Synopsis: Marion County COIT. Allows the Marion County
city-county council to elect to provide revenue to a public library
located in Marion County from the certified distribution of county
option income tax (COIT) revenue.
Effective: July 1, 2011.
January 20, 2011, read first time and referred to Committee on Ways and Means.
February 14, 2011, amended, reported _ Do Pass.
February 17, 2011, read second time, amended, ordered engrossed.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
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A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
(1) replace the amount, if any, of property tax revenue lost due to the allowance of an increased homestead credit within the county;
(2) fund the operation of a public communications system and computer facilities district as provided in an election, if any, made by the county fiscal body under IC 36-8-15-19(b);
(3) fund the operation of a public transportation corporation as provided in an election, if any, made by the county fiscal body under IC 36-9-4-42;
(4) fund the operation of a public library in a county containing a consolidated city as provided in an election, if any, made by the county fiscal body under IC 36-3-7-6;
(b) The county auditor shall retain from the payments of the county's certified distribution, an amount equal to the revenue lost, if any, due to the increase of the homestead credit within the county. This money shall be distributed to the civil taxing units and school corporations of the county as though they were property tax collections and in such a manner that no civil taxing unit or school corporation shall suffer a net revenue loss due to the allowance of an increased homestead credit.
(c) The county auditor shall retain:
(1) the amount, if any, specified by the county fiscal body for a particular calendar year under subsection (i), IC 36-3-7-6, IC 36-7-14-25.5, IC 36-7-15.1-17.5, IC 36-8-15-19(b), and IC 36-9-4-42 from the county's certified distribution for that same calendar year; and
(2) the amount of an additional tax rate imposed under section 27, 28, 29, 30, 31, 32, or 33 of this chapter.
The county auditor shall distribute amounts retained under this subsection to the county.
(d) All certified distribution revenues that are not retained and distributed under subsections (b) and (c) shall be distributed to the civil taxing units of the county as distributive shares.
(e) The amount of distributive shares that each civil taxing unit in a county is entitled to receive during a month equals the product of the following:
(1) The amount of revenue that is to be distributed as distributive shares during that month; multiplied by
(2) A fraction. The numerator of the fraction equals the allocation amount for the civil taxing unit for the calendar year in which the month falls. The denominator of the fraction equals the sum of the allocation amounts of all the civil taxing units of the county for the calendar year in which the month falls.
(f) The department of local government finance shall provide each county auditor with the fractional amount of distributive shares that each civil taxing unit in the auditor's county is entitled to receive monthly under this section.
(g) Notwithstanding subsection (e), if a civil taxing unit of an adopting county does not impose a property tax levy that is first due and payable in a calendar year in which distributive shares are being
distributed under this section, that civil taxing unit is entitled to receive
a part of the revenue to be distributed as distributive shares under this
section within the county. The fractional amount such a civil taxing
unit is entitled to receive each month during that calendar year equals
the product of the following:
(1) The amount to be distributed as distributive shares during that
month; multiplied by
(2) A fraction. The numerator of the fraction equals the budget of
that civil taxing unit for that calendar year. The denominator of
the fraction equals the aggregate budgets of all civil taxing units
of that county for that calendar year.
(h) If for a calendar year a civil taxing unit is allocated a part of a
county's distributive shares by subsection (g), then the formula used in
subsection (e) to determine all other civil taxing units' distributive
shares shall be changed each month for that same year by reducing the
amount to be distributed as distributive shares under subsection (e) by
the amount of distributive shares allocated under subsection (g) for that
same month. The department of local government finance shall make
any adjustments required by this subsection and provide them to the
appropriate county auditors.
(i) Notwithstanding any other law, a county fiscal body may pledge
revenues received under this chapter (other than revenues attributable
to a tax rate imposed under section 30, 31, or 32 of this chapter) to the
payment of bonds or lease rentals to finance a qualified economic
development tax project under IC 36-7-27 in that county or in any other
county if the county fiscal body determines that the project will
promote significant opportunities for the gainful employment or
retention of employment of the county's residents.