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IN HB1644
Bill
Status
1/24/2019
Primary Sponsor
Dave Heine
Click for details
AI Summary
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Counties with both vehicle excise tax and wheel tax in effect may pledge ad valorem property tax revenue without restriction for road and bridge bond payments
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Removes limitations on property tax pledges for counties that have already implemented the two vehicle-related taxes
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Counties without both taxes in effect remain restricted to pledging only cumulative bridge fund (IC 8-16-3) and major bridge fund (IC 8-16-3.1) revenues
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Amends IC 8-18-22-6 governing county fiscal body authority over revenue pledges for transportation bonds
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Effective date: July 1, 2019
Legislative Description
County road and bridge funding. Provides that if the county vehicle excise tax and the county wheel tax are in effect in a county, the county fiscal body may without restriction pledge to levy ad valorem property tax revenue for the payment of principal and interest on bonds and notes and for other purposes related to county road and bridge funding, in addition to the levies authorized for a cumulative bridge fund and a major bridge fund.
Last Action
First reading: referred to Committee on Ways and Means
1/24/2019