HB 1527 Summary

• Area within the corporate boundaries of the town of Griffith is transferred from Calumet Township to St. John Township effective January 1, 2012.

• Real property of Calumet Township within Griffith's boundaries transfers to St. John Township, and a proportionate share of each fund's unencumbered balance transfers based on the assessed value ratio.

• Taxpayers in the transferred area remain liable for a proportionate share of Calumet Township's outstanding indebtedness as of December 31, 2011, calculated by assessed value ratio.

• St. John Township may levy property taxes as necessary within the transferred area to pay annual debt service on the assumed indebtedness, notwithstanding other property tax limitations.

• The Department of Local Government Finance must determine transferred property and fund balances, calculate outstanding indebtedness liability, and adjust budgets and property tax levies for both townships to reflect the transfer.