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IN SB0161
Bill
Status
1/4/2017
Primary Sponsor
Rick Niemeyer
Click for details
AI Summary
SB 161 Summary
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Referendums on controlled projects with preliminary determinations made after June 30, 2017 must be held only at general elections (not special elections or primaries).
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Political subdivisions and school corporations must submit tax impact examples to the department of local government finance website at least 30 days before an election, showing how approval would affect property tax liability for single-family residential, agricultural, and commercial properties.
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For school corporation referendums with resolutions adopted after June 30, 2017, elections must be held at general elections rather than primary or special elections.
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Commercial property tax examples must separately show the hypothetical impact on both real property and tangible personal property net assessed values.
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Effective July 1, 2017.
Legislative Description
Referendum levies. Provides that a referendum on a controlled project may be held only at a general election, if the preliminary determination to issue bonds or enter into a lease for the controlled project is made after June 30, 2017. Requires a political subdivision that intends to hold a referendum on a controlled project to post examples on the Internet web site of the department of local government finance (department) that illustrate the effect on the annual property tax liabilities of hypothetical taxpayers if the referendum question were to be approved. Provides that a referendum for a referendum tax levy
Last Action
First reading: referred to Committee on Tax and Fiscal Policy
1/4/2017