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IN HB1368
Bill
Status
1/17/2017
Primary Sponsor
Milo Smith
Click for details
AI Summary
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Amends IC 6-1.1-10-2 to expand the definition of "state agency" to include Ball State University, Indiana State University, Indiana University, Ivy Tech Community College, Purdue University, University of Southern Indiana, and Vincennes University for property tax exemption purposes.
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Property owned by the state, a state agency, or the bureau of motor vehicles commission remains exempt from property taxation.
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Real property leased to a state agency qualifies for property tax exemption if the lease requires the state agency to either reimburse the owner for property taxes or pay the property taxes directly.
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When a state agency leases less than an entire parcel, the exemption applies as a partial exemption equal to the portion of gross assessed value attributable to the leased portion.
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Effective date: July 1, 2017.
Legislative Description
Property tax exemptions. Specifies that for purposes of the property tax exemption for property owned by or leased to state agencies, the term "state agency" also includes Ball State University, Indiana State University, Indiana University, Ivy Tech Community College, Purdue University, the University of Southern Indiana, and Vincennes University. Specifies that the exemption is also available for property leased to a state agency if the lease requires the state agency to pay the property taxes on the property. (Under current law, the exemption for property leased to a state agency applies if the lease requires the state agency to reimburse
Last Action
First reading: referred to Committee on Ways and Means
1/17/2017