IN HB1342

Townships containing municipalities with populations of at least 10,000 must transfer township powers and duties to those municipalities after December 31, 2014, with municipal executives assuming township trustee responsibilities and municipal legislative bodies assuming township board duties

Abolishes township trustee, township board, and township assessor offices on January 1, 2015, for townships entirely within municipalities of 10,000+ population or consolidated cities, transferring all assets, property, equipment, records, and contracts to the municipality

Townships with populations under 1,500 as of January 1, 2013, must merge with another township government before January 1, 2015, or be automatically merged with the most populous contiguous township

Caps township board member total compensation at $5,000 per year beginning January 1, 2015, and prohibits political subdivisions from employing immediate family members in direct supervisory or subordinate relationships beginning January 1, 2015

Requires annual local government reports to be filed with the state board of accounts by March 1, and authorizes the Department of Local Government Finance to withhold budget approval if townships fail to adopt or file township assistance standards for two consecutive years