In the House Ways and Means committee, the special property tax increase that would have given Clark County approximately $500,000 a year in increased property tax revenue was stripped from SB 344:
http://www.courier-journal.com/article/20120222/NEWS02/302220115/
Section 34 of SB 344 as it was sent to the House read as follows:
SOURCE: ; (12)SB0344.2.34. --> SECTION 34. [EFFECTIVE JULY 1, 2012]
(a) This SECTION applies to Clark County.
(b) The department of local
government finance shall recalculate the 2013 maximum permissible ad valorem
property tax levy under IC 6-1.1-18.5 for the county by using the 2007 maximum
permissible ad valorem property tax levy for the county and then increasing the
2007 levy by applying the cumulative effect of using the assessed value growth
quotient applicable to the county for 2008 through 2012.
(c)
Notwithstanding the expiration of this SECTION, the 2013 maximum permissible ad
valorem property tax levy for the county is to be used as the county's previous
year maximum permissible ad valorem property tax levy for determinations under
IC 6-1.1-18.5 after 2013.
(d) This SECTION expires January 1,
2015.
The committee report, linked below, merely inserts a new Section 34 in place of the Clark County property tax increase:
http://www.in.gov/legislative/bills/2012/PDF/HCRF/CR034402.001.pdf
