IN HB1165

Consolidates duplicated provisions regarding property tax deductions for property sold under installment contracts into a single section, defining "qualified installment contract" with specific requirements.

Requires that installment contracts for real property, mobile homes, or manufactured homes entered into after May 31, 2013, must specify the total contract price for the sale.

Provides that property subject to an installment contract does not qualify for a property tax deduction unless the installment contract is an enforceable contract.

Expands definition of "qualified installment contract" for property taxes first due after December 31, 2013, to require compliance with new criteria specified in IC 6-1.1-12-39.

Takes effect upon passage and declares an emergency for the act.