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IN HB1451
Bill
Status
1/15/2019
Primary Sponsor
Lisa Beck
Click for details
AI Summary
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Creates state grants for public libraries in Lake County and St. Joseph County to replace revenue lost due to property tax circuit breaker credits applied after December 31, 2019
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Limits eligibility to libraries expecting to lose more than 1% of their property tax revenue from circuit breaker credit applications in a given year
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Calculates grant amounts as the difference between current year circuit breaker credits and 2019 baseline credits (or zero if negative)
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Requires the budget agency to certify grant amounts by November 1 each year, with payments made to eligible libraries before December 15
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Appropriates funds from the state general fund and sets the program to expire January 1, 2030
Legislative Description
Circuit breaker replacement grants. Provides for grants to public libraries in Lake County and St. Joseph County to replace revenue lost to those public libraries from the application of the circuit breaker credit after December 31, 2019. Specifies that a public library is entitled to such a grant in a particular year only if it expects to lose more than 1% of its property tax revenue because of the application of the circuit breaker credits. Appropriates from the state general fund the amounts necessary to make the required grant payments.
Last Action
First reading: referred to Committee on Ways and Means
1/15/2019