Loading chat...
IN HB1127
Bill
Status
1/7/2019
Primary Sponsor
Doug Miller
Click for details
AI Summary
-
Creates property tax exemption for tangible property owned by 501(c)(3) Indiana nonprofit public benefit corporations operating health, fitness, aquatics, and community centers that received funding through the Indiana Economic Development Corporation's regional cities initiative
-
Exemption applies retroactively to assessment dates after December 31, 2016, with the bill effective July 1, 2019
-
Extends exemption to portions of property leased or licensed to other nonprofit or municipal entities for similar health, fitness, aquatics, or community center uses, including storage and parking areas
-
Allows exemption for land purchased for future development if owner demonstrates substantial progress within 4 years, including factors like active building committees, filed building plans, dedicated cash reserves, or groundbreaking
-
Entitles qualifying property owners to refunds of property taxes, penalties, and interest paid for 2017-2018 assessment dates, with refund claims filed before September 1, 2019 considered timely
Legislative Description
Property tax exemption. Provides a property tax exemption effective January 1, 2017, for certain property owned by an Indiana nonprofit public benefit corporation exempt from taxation under Section 501(c)(3) of the Internal Revenue Code if: (1) the property is used in the operation of a nonprofit health, fitness, aquatics, and community center; and (2) the acquisition and development of the property are provided in part under the regional cities initiative of the Indiana economic development corporation. Provides for a refund for any property taxes paid in 2018 and 2019.
Last Action
Representative Wesco added as coauthor
1/15/2019