General Assembly Assigns Summer Study Topics for Commission on State Tax and Financing

COMMISSION ON STATE TAX AND FINANCING POLICY (IC 2-5-3-2)

THE COMMISSION IS CHARGED WITH STUDYING THE FOLLOWING TOPICS:

A. Whether the exemption provided by IC 6-2.5-5-46 (exemption from sales tax for

personal property transactions involving certain foreign aircraft), should be made
to apply to all aircraft and avionic devices (HEA 1325);

B. Assessment of outdoor signs (HEA 1072, SB 344);

C. Whether the value of tax credits under Section 42 of the Internal Revenue Code

should be considered in determining the assessed value of low income housing tax
credit property (HEA 1072);

D. All income tax credits using a schedule that provides for approximately half the

credits to be studied each year and for the credits to be studied in the order they
were enacted. The STFP shall prepare a report that covers each credit and that
includes the following:

(1) A review of the original scope and purpose of the credit and whether

the scope or purpose has changed since the credit's enactment;

(2) The economic parameters of the credit, including the credit percentage

and credit limits, and whether these parameters have changed since the
credit's enactment;

(3) A description of the taxpayers that qualify for the credit and how

effective the credit has been in assisting these targeted taxpayers;

(4) The type of activities on which the credit is based and how effective

the credit has been in promoting these targeted activities;

(5) The amount of the credits granted over time;

(6) A determination of the dollar amount of credits granted but not taken

that can be carried forward;

(7) A summary of audit findings for each credit and whether there has

been any misuse of the credit; and

(8) Suggested changes in the law with regard to each credit, including

whether the credit should be retained or not.

(HEA 1072, SB 344);

E. Financing of solid waste management districts, including:

(1) Property tax levies allowed under IC 13-21 and related statutes under

IC 6-1.1;

(2) District final disposal fees set forth in IC 13-21-13;

(3) District solid waste management fees set forth in IC 13-21-14; and

(4) Any other funding sources that are available to and used by districts.

(SEA 131); and

F. Developing a comprehensive plan and set of parameters for distressed local units

of government and school corporations to borrow funds from the state on an
emergency basis (HR 89).

http://www.in.gov/legislative/pdf/LCR12-01-new%20interim%20study%20committees%20AS%20ADOPTED.pdf