IN HB1588

Modifies the calculation method for county certified distributions of adjusted gross income tax, county option income tax, and county economic development income tax to base distributions on the amount of tax actually received from county taxpayers, regardless of whether those amounts have been reported on processed returns or amended returns

Removes the previous requirement that distributions be based only on amounts reported on annual returns or amended returns processed by the Department of State Revenue during the prior state fiscal year

Requires the budget agency to include in its informative summary to county councils the amount of tax received from county taxpayers, in addition to the existing required disclosures about return processing, adjustments, and distributions

Applies to distributions under IC 6-3.5-1.1 (county adjusted gross income tax), IC 6-3.5-6 (county option income tax), and IC 6-3.5-7 (county economic development income tax)

Effective date is July 1, 2013