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IN HB1211
Bill
Status
1/13/2015
Primary Sponsor
Sue Errington
Click for details
AI Summary
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Amends Indiana Code IC 6-1.1-20.6-9.8 to allow school corporations to determine how property tax revenue losses from circuit breaker credits are allocated among their funds.
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Requires school corporations choosing this allocation method to adopt a resolution certifying the specific allocation amounts for revenue losses.
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Permits school corporations to allocate revenue losses among their funds in amounts determined by the corporation, made after the corporation receives its tax distribution.
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Ensures that other political subdivisions' tax revenue and funds are not affected by a school corporation's allocation decisions.
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Effective January 1, 2015 with retroactive application; emergency declaration included.
Legislative Description
Protected taxes and school corporations. Specifies that a school corporation may determine the allocation among its funds of property tax reductions resulting from the granting of property tax circuit breaker credits.
Last Action
First Reading: referred to Committee on Ways and Means
1/13/2015