An excerpt of SB 19 as it passed the House -
Chapter 22.6. Resolution of Multi-Year Delay in Issuance of Tax
Bills
...
Sec. 14. The general assembly finds that LaPorte
County qualified as a county subject to this chapter on February 1,
2012.
...
Sec. 18.
(a) Subject to subsection (b), a covered county shall set aside in a separate
fund on the schedule specified by the department from the funds specified by the
department, one million dollars ($1,000,000) for each consecutive year that the
county experienced delayed property taxes before the year in which the county
qualifies as a covered county.
(b) The amount that must be set aside
under subsection (a) for a particular year that the county experienced delayed
property taxes is reduced:
(1) to zero (0), if all reconciliation
statements for the delayed property taxes covered by subsection (a) and not
previously billed are mailed or otherwise transmitted to taxpayers before
January 16 of the year immediately following the year that the county becomes a
covered county; and
(2) by twenty-five percent (25%), if all
reconciliation statements for delayed property taxes covered by subsection (a)
and not previously billed are mailed or otherwise transmitted to taxpayers
before March 1 of the year immediately following the year that the county
becomes a covered county.
(c) The amount set aside under this section for
a particular year in which eligible taxing units experienced delayed property
taxes shall be used to compensate eligible taxing units for:
(1)
interest and other costs incurred by an eligible taxing unit for issuing
anticipation warrants or other obligations to fund the eligible taxing unit's
operating and capital requirements during a period in which the eligible taxing
unit experienced delayed property tax collections; and
(2) interest,
at the adjusted rate for the period determined under IC 6-8.1-10-1, on the
amount of the delayed property taxes not received by the eligible taxing unit,
if the eligible taxing unit self-funded its operating and capital requirements
during a period in which the eligible taxing unit experienced delayed
property tax collections rather than issue anticipation warrants or other
obligations.
...
Sec. 20. (a) Subject to the approval of the
department, a county executive of a covered county may employ one (1) or more
special masters and the number of deputy special masters needed by the special
masters to carry out substantially all of the duties of:
(1) the
county auditor; or
(2) the county treasurer;
or both, as is
necessary to issue property tax bills in each year that the county is a covered
county, including the year that the county ceases to be a covered
county.
http://www.in.gov/legislative/bills/2012/ES/ES0019.2.html
