HB 1253 Summary

• Directs the commission on state tax and financing policy to evaluate whether Indiana should limit increases in assessed property values to changes in the consumer price index.

• Requires the commission to review how other states have implemented limitations on property assessment increases following property purchases.

• Mandates the commission recommend any necessary changes to the Indiana Constitution if it concludes the state should adopt assessment limitations.

• Commission must report findings and recommendations to the legislative council by November 1, 2011.

• Section expires January 1, 2012.