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IN HB1403
Bill
Status
1/13/2016
Primary Sponsor
Thomas Dermody
Click for details
AI Summary
HB 1403 Summary
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Amends Indiana Code property tax exemption provisions for airport property to include real property purchased with Federal Aviation Administration or Indiana Department of Transportation grant funds.
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Redefines "land used for public airport purposes" to mean real property purchased using funds that include grant money from the Federal Aviation Administration or the Indiana Department of Transportation.
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Applies the same definition to leased airport properties, facilities, and structures situated on land purchased with federal or state aviation grant funds.
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Effective retroactively to January 1, 2016 for property taxes imposed after December 31, 2015.
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Emergency declaration included; provisions expire January 1, 2018.
Legislative Description
Property tax exemption for airport property. Provides that, for purposes of the property tax exemption for real property used for airport purposes, real property is considered to be used for airport purposes if the real property was purchased with funds that include grant money from the Federal Aviation Administration or the Indiana department of transportation.
Last Action
First reading: referred to Committee on Ways and Means
1/13/2016