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IN SB0034
Bill
Status
1/5/2016
Primary Sponsor
Timothy Lanane
Click for details
AI Summary
Senate Bill 34 Summary
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Amends IC 6-1.1-20.6-9.8 to allow school corporations to determine how property tax reductions from circuit breaker credits are allocated among their funds
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School corporations that elect this allocation option must adopt a resolution certifying the allocation amounts for revenue loss from section 7.5 credits
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Allocation amounts must be determined by the school corporation and made after the corporation receives its tax distribution
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Other political subdivisions' tax revenue and funds cannot be affected by the school corporation's allocation of the reduction
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Effective January 1, 2016 (retroactive); emergency declared for the act
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 Appropriations
1/5/2016