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IN HB1164
Bill
Status
Introduced
1/10/2013
Primary Sponsor
Cherrish Pryor
Click for details
AI Summary
- Restricts the definition of "homestead" for property tax deduction purposes when property is owned by corporations, partnerships, LLCs, or other non-individual entities
- Requires entity-owned property to have actually received the standard deduction for the March 1, 2009 assessment date (not merely been eligible for it) to continue qualifying as a homestead
- Adds requirement that entity-owned property must still be owned by the same entity that owned it on March 1, 2009 to qualify for the homestead deduction
- Applies to assessment dates after 2013, with an effective date of July 1, 2013
Legislative Description
Definition of homestead.
Last Action
First reading: referred to Committee on Ways and Means
1/10/2013
Committee Referrals
Ways and Means1/10/2013
Full Bill Text
No bill text available