Loading chat...
IN HB1230
Bill
Status
1/11/2016
Primary Sponsor
Lloyd Arnold
Click for details
AI Summary
HB 1230 Summary
-
Requires state to make payments in lieu of property taxes (PILOTs) to counties where at least 15% of all land is owned or leased by a combination of state and federal government and exempt from property taxes.
-
Defines "qualified parcel" as state-owned or state-leased property that is tax-exempt and located in an eligible county.
-
Calculates PILOT amount by valuing each acre of qualified parcel at one-fourth of the statewide agricultural land base rate, then assessing property taxes on that adjusted value.
-
PILOTs are collected and distributed like property taxes and may be used for any purpose property taxes may be used for.
-
Annually appropriates from state general fund the amount necessary to pay all required PILOTs, effective July 1, 2016 for taxes due after December 31, 2016.
Legislative Description
State payments in lieu of property taxes. Requires the state to make payments in lieu of property taxes (PILOT) for qualified parcels in counties in which at least 15% of all land in the county is: (1) owned or leased by a combination of both the state of Indiana and the federal government; and (2) subject to an exemption from property taxes. Defines "qualified parcel" as a parcel that is: (1) owned or leased by the state of Indiana; (2) subject to an exemption from property taxes; and (3) located in a county to which this act applies. Provides that
Last Action
First reading: referred to Committee on Ways and Means
1/11/2016