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IN HB1111
Bill
Status
1/7/2019
Primary Sponsor
Steve Bartels
Click for details
AI Summary
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Counties where at least 15% of land is owned or leased by state or federal government and exempt from property taxes become eligible for state payments in lieu of taxes (PILOTs)
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Qualified parcels are state-owned or leased properties that are tax-exempt and located in eligible counties; federal lands count toward the 15% threshold but only state-owned parcels receive PILOTs
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PILOT amounts are calculated by assessing each acre at half the statewide agricultural land base rate value, then applying the local property tax rate
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Receiving taxing units must spend PILOT funds on public safety, capital improvements, or equipment purchases and leases
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State general fund provides an ongoing annual appropriation to cover all required PILOT payments, effective July 1, 2019
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 county containing qualified parcels is entitled to receive PILOTs from the state. Provides that for purposes of calculating a PILOT, each acre of the qualified parcel is considered to have an assessed value of 1/2 of the statewide agricultural land base rate value. Provides that money received from the PILOTs must be used by the taxing units for one or more of the following purposes: (1) Public safety. (2) Capital improvements. (3) Purchase or lease of equipment. Annually appropriates from the state general fund the amount necessary to pay the required PILOTs.
Last Action
First reading: referred to Committee on Ways and Means
1/7/2019