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ID H0614
Bill
Status
3/16/2016
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
HB 614 Summary
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County clerks must certify by the third Monday of November 2016 to the state tax commission the amount of property tax exemption for federally recognized Indian tribe property, including property value, location, applicable tax levy, and taxes that would apply without exemption.
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Beginning January 1, 2017, the state tax commission shall reimburse county treasurers for property taxes forgone on exempt Indian tribe property based on the amounts certified in 2016, with reimbursements paid half by December 20 and half by June 20 annually.
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County treasurers must redistribute reimbursements proportionally to taxing districts and directly to revenue allocation areas, with treatment as property tax revenues for levy limit purposes.
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For taxable year 2016 only, taxing districts shall include exempt Indian tribe property value when calculating taxable value for budget certification purposes to establish baseline replacement amounts.
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The state tax commission must pay replacement moneys from appropriated funds, with recovered improperly claimed exemptions reported and deducted from future replacement payments to affected taxing districts.
Legislative Description
Amends existing law to provide procedures for calculating the value of property exempt from taxation belonging to a federally recognized Indian tribe and property taxes forgone and to provide duties of the county clerk and State Tax Commission; to provide application to taxing districts for 2016 taxable year only for those taxing districts containing property of federally recognized Indian tribes; and to provide for remittance of moneys to local governments for property belonging to a federally recognized Indian tribe and that is exempt from taxation.
PROPERTY TAXATION
Last Action
Reported Printed and Referred to Revenue & Taxation
3/17/2016