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IN HB1201
Bill
Status
1/10/2017
Primary Sponsor
Lloyd Arnold
Click for details
AI Summary
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Requires Indiana to make payments in lieu of property taxes (PILOTs) for state-owned or state-leased land that is tax-exempt in counties where at least 15% of all land is state or federally owned/leased and tax-exempt.
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Defines "qualified parcel" as state-owned or state-leased property that is tax-exempt and located in an applicable county, entitling those counties to receive PILOT payments from the state.
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Calculates each PILOT using the statewide agricultural land base rate value multiplied by the acreage, then divided by two, with assessed value rounded to the nearest dollar.
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PILOTs are collected and distributed like property taxes, may be used for any purpose property taxes support, and are treated the same under all procedural and substantive law provisions.
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Appropriates annually from the state general fund the amount necessary to pay all required PILOTs, effective July 1, 2017 for property taxes first due after December 31, 2017.
Legislative Description
State payments in lieu of property taxes. Requires the state to make payments in lieu of property taxes (PILOTs) for qualified parcels in counties in which at least 15% of all land in the county is: (1) in the aggregate, owned or leased by the state of Indiana or 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 a
Last Action
First reading: referred to Committee on Ways and Means
1/10/2017