Senate Bill 326 Summary

• Amends Indiana Code 6-1.1-20.6-2 to redefine "homestead" for property tax circuit breaker credit purposes as one that has been granted a standard deduction under IC 6-1.1-12-37.

• Changes the definition from homesteads that are "eligible for" a standard deduction to those that "have been granted" a standard deduction, creating a more restrictive qualification.

• Applies only to property taxes first due and payable after December 31, 2013.

• Declares an emergency for the act, making it effective upon passage.