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IN HB1355
Bill
Status
1/12/2017
Primary Sponsor
Sue Errington
Click for details
AI Summary
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School corporations with transportation fund levies reduced by more than 40% due to circuit breaker credits are entitled to receive state grants equal to the amount of credits granted against their transportation fund.
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Eligible school corporations must submit an application to the Indiana Department of Education requesting the grant.
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The department, with assistance from the Department of Local Government Finance, determines annually which school corporations qualify for grants.
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Grant distributions must occur after June 30 but before September 1 each year, and grant funds must be deposited in the school corporation's transportation fund.
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The state general fund is appropriated to cover all grant amounts annually, and the program expires on July 1, 2021.
Legislative Description
Circuit breaker property tax grants. Provides a grant to school corporations that have their transportation fund levies reduced by more than 40% because of the application of circuit breaker credits. Specifies that the amount of a grant is equal to the amount of circuit breaker credits granted against the school corporation's transportation fund levy for the year. Appropriates from the state general fund the amounts necessary to make the grants. Sunsets the law on July 1, 2021.
Last Action
Representative Bauer added as coauthor
1/23/2017