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IN SB0321
Bill
AI Summary
Senate Bill 321 Summary
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Moves the budget certification deadline for the Department of Local Government Finance from February 15 to December 31 of the preceding year (or January 15 if debt issuance or shortfall appeals are pending), effective for budget years after 2018.
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Requires county auditors to submit parcel-level data of certified net assessed values to DLGF beginning in 2018, in the manner and format prescribed by the department.
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Establishes new procedures for redevelopment commissions to provide written notice to taxing units by June 15 (instead of July 1) regarding excess assessed value allocation determinations.
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Creates new provisions requiring fiscal officers to estimate debt service obligations and DLGF to provide estimates of maximum property tax rates, property tax credits, and revenue projections to political subdivisions before July 15 annually.
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Repeals the county fiscal body pilot program (Section 3.5) and replaces it with a simpler August meeting requirement where county fiscal bodies review levy limits and credit estimates, with optional written recommendations to taxing units.
Legislative Description
Local government budgeting. Provides that for each budget year after 2018, the department of local government finance (DLGF) shall certify a political subdivision's budget, tax rate, and tax levy not later than: (1) December 31 of the year preceding the budget year, unless a taxing unit in a county is issuing debt after December 1 in the year preceding the budget year or intends to file a shortfall appeal; or (2) January 15 of the budget year, if a taxing unit in a county is issuing debt after December 1 in the year preceding the budget year or intends to
Last Action
Public Law 184
3/24/2016