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IN HB1161
Bill
Status
1/8/2018
Primary Sponsor
Robert Cherry
Click for details
AI Summary
HB 1161 Summary
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Exempts local airport authorities' cumulative building fund tax rates from the automatic property tax rate adjustment requirements under IC 6-1.1-18-12.
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Allows airport authorities to increase cumulative building fund tax rates without following standard cumulative fund procedures, provided they give notice and hold a public hearing beforehand.
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Requires notice of proposed tax rate increases to be published in accordance with IC 5-3-1 and mandates a public hearing before any increase takes effect.
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Makes technical corrections to statute citations and removes references to repealed statutes in the tax rate adjustment statute (IC 6-1.1-18-12).
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Effective upon passage, with the airport authority tax rate exemption effective January 1, 2019.
Legislative Description
Local airport authority tax rates. Specifies that the statute requiring the adjustment of certain property tax rates does not apply to a local airport authority's cumulative building fund tax rate. Specifies that an airport authority may increase the tax rate for its cumulative building fund without complying with procedures under the cumulative fund statute. Requires an airport authority to give notice of the proposed increase and hold a public hearing on the proposal before increasing the tax rate. Makes technical corrections.
Last Action
First reading: referred to Committee on Ways and Means
1/8/2018