Friday, March 2, 2012

SB 19 as Amended by the House to Sanction LaPorte County for Delayed Tax Bills

An excerpt of SB 19 as it passed the House -

Chapter 22.6. Resolution of Multi-Year Delay in Issuance of Tax Bills
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Sec. 14. The general assembly finds that LaPorte County qualified as a county subject to this chapter on February 1, 2012.
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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.
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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