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IN HB1093
Bill
Status
1/5/2016
Primary Sponsor
Jeffrey Thompson
Click for details
AI Summary
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County councils may adopt an ordinance in odd-numbered years to reduce the maximum county income tax expenditure rate by 0.5%, which then allows cities and towns in that county to impose a 0.5% expenditure rate on adjusted gross income of residents and certain nonresidents with principal place of business or employment in the municipality.
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County councils that reduce their rate by 0.5% may designate that the first 0.5% of revenue generated goes directly to the county before distribution to other taxing units, while cities and towns keep all revenue from their imposed 0.5% rate for any municipal purpose.
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Maximum property tax rates for county cumulative capital development funds, municipal cumulative capital development funds, and fire protection territory equipment replacement funds will no longer be adjusted annually for changes in assessed values resulting from reassessments.
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Cities and towns with law enforcement agencies that prosecute at least one ordinance violation in circuit or superior court may collect a share of semiannual court fee distributions, lowering the previous requirement of prosecuting at least 50% of ordinance violations.
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Effective dates: July 1, 2016; January 1, 2017; and July 1, 2017.
Legislative Description
Local revenue. Provides that a city or town may impose an expenditure rate of not more than 0.5% on the adjusted gross income of residents of the city or town and certain nonresidents whose principal place of business or employment is in the city or town, if the county council of the county in which the city or town is located adopts an ordinance to reduce the maximum county income tax expenditure rate by 0.5%. Provides that a county council that has adopted an ordinance to reduce the maximum local income tax expenditure rate by 0.5% may include a provision
Last Action
First reading: referred to Committee on Ways and Means
1/5/2016