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IN HB1037
Bill
Status
1/5/2016
Primary Sponsor
Eric Koch
Click for details
AI Summary
House Bill 1037 Summary
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Authorizes the department of local government finance to incorporate by reference formatting, coding, and transmission requirements for county data submissions in administrative rules.
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Eliminates the residential rehabilitation deduction for property value increases from rehabilitation work occurring after December 31, 2016.
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Eliminates the rehabilitated property deduction for property value increases from rehabilitation work occurring after December 31, 2016.
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Prohibits claiming the state tax credit for contributions to the twenty-first century scholars program support fund for contributions made after December 31, 2016.
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Prohibits taxpayers from claiming the residential historic rehabilitation tax credit for expenditures made after December 31, 2016, and requires redevelopment commissions to report additional tax increment financing district information to their executive bodies and the department of local government finance.
Legislative Description
Tax incentives and reporting. Authorizes the department of local government finance to incorporate by reference in an administrative rule certain formatting, coding, and transmission requirements for data that must be submitted by counties. Provides that a property owner is not entitled to the residential rehabilitation deduction for an increase in assessed value attributable to rehabilitation occurring after December 31, 2016. Provides that a property owner is not entitled to the rehabilitated property deduction for an increase in assessed value attributable to rehabilitation occurring after December 31, 2016. Provides that the state tax credit for contributions to the twenty-first century scholars
Last Action
First reading: referred to Committee on Ways and Means
1/5/2016