IN HB1324

Allows taxpayers who default on a payment arrangement to enter into a new payment arrangement for the same property if they pay at least one-third (1/3) of the taxes owed upfront when the new arrangement is entered into.

Requires the remaining balance of taxes to be paid within one year after the new payment arrangement is entered into.

If a taxpayer defaults on a conforming new arrangement, they cannot enter into another arrangement for that property until five years after the date the new arrangement would have expired.

If a taxpayer does not enter into a conforming new arrangement after a default, they cannot enter into another arrangement until five years after the original arrangement would have expired.

Effective July 1, 2014.