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HB 1007 - Property Tax Relief - Indiana Key Vote

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Title: Property Tax Relief

Vote Smart's Synopsis:

Vote to pass a bill allowing counties to increase income tax rates on individuals and corporations in an effort to provide property tax relief. This bill also shifts some child welfare costs from local jurisdictions to the state.

Highlights:

- Allows counties to increase income tax rates up to one percent for individuals and corporations residing within the county [sec. 34(24)(b)]. - Allocates a portion of the tax revenue to the county in which an individual owns a business or is employed if that county differs from the individual's county of residence [sec. 34(24)(b)]. - Requires at least of 60 percent of all new income tax revenue to be used for property tax relief [sec. 34(24)(c)]. - Requires remaining new income tax revenue to be used for public safety expenditures [sec. 34(24)(g)]. - Requires the state to partially reimburse counties for child service expenditures paid from property tax revenues [sec. 62(35)]. - Establishes a nine-member property tax control board in each county [sec. 10(ch. 17.5)(8)].

NOTE: THE CONSTITUTION REQUIRES A MAJORITY OF THE ENTIRE MEMBERSHIP (AS OPPOSED TO A MAJORITY OF THOSE PRESENT) TO VOTE FOR THE PASSAGE OF BILLS AND RESOLUTIONS THAT WILL HAVE THE EFFECT OF LAW.

Full Bill Text

NOTE: THE CONSTITUTION REQUIRES A MAJORITY OF THE ENTIRE MEMBERSHIP (AS OPPOSED TO A MAJORITY OF THOSE PRESENT) TO VOTE FOR THE PASSAGE OF BILLS AND RESOLUTIONS THAT WILL HAVE THE EFFECT OF LAW.

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