House Bill (S)

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DIGEST

Referendum process and remonstrance process. Increases the thresholds used for purposes of determining whether a capital project is a controlled project and for applying the petition and remonstrance process and referendum process as follows: (1) In the case of an ordinance or resolution adopted after December 31, 2017, and before January 1, 2019, making a preliminary determination to issue bonds or enter into a lease for the project, the threshold is increased by applying the compounded annual percentage changes in the assessed value growth quotient for each year after 2009 and through 2018. (2) In the case of an ordinance Referendum process and remonstrance process. Increases the thresholds used for purposes of determining whether a capital project is a controlled project and for applying the petition and remonstrance process and referendum process as follows: (1) In the case of an ordinance or resolution adopted after December 31, 2017, and before January 1, 2019, making a preliminary determination to issue bonds or enter into a lease for the project, the threshold is increased by applying the compounded annual percentage changes in the assessed value growth quotient for each year after 2009 and through 2018. (2) In the case of an ordinance or resolution adopted after December 31, 2018, making a preliminary determination to issue bonds or enter into a lease for the project, the threshold is increased by applying the assessed value growth quotient for the year to the threshold amount determined for the preceding year. Requires that a political subdivision's notice of the preliminary determination to issue bonds or enter into a lease for a controlled project must also include information concerning the estimated amount of the political subdivision's debt service levy and rate that will result during the following 10 years if the political subdivision issues the bonds or enters into the lease, after also considering any changes that will occur to the debt service levy and rate during that period on account of any outstanding bonds or lease obligations that will mature or terminate. Provides for an illustrative example on the referendum ballot. Specifies a standard for determining whether a political subdivision has artificially divided a capital project into multiple capital projects for purposes of the prohibition against artificially dividing a capital project to avoid the requirements of the petition and remonstrance process or the local public question process for the issuance of bonds or other indebtedness. Relocates existing law concerning calculation of the cost of certain projects by a school corporation career and technical education school to a separate section within the controlled projects statute. Requires a political subdivision to: (1) conduct at least two public hearings on a preliminary determination concerning a controlled project (rather than one hearing under current law); and (2) make certain information available to the public at each of the public hearings. Provides that if a referendum for a controlled project or for a school operating referendum fund property tax levy is defeated, another referendum may not be held earlier than 700 days after the date of the first referendum (rather than 350 days under current law). Specifies that the 350 day limit applies if a sufficient petition requesting that limit is submitted by property owners or voters. Provides that a school corporation operating referendum fund property tax levy may be not imposed for more than eight years. (Current law provides that the referendum levy may not be imposed for more than seven years.) Applies to a referendum that takes place after June 30, 2017. ... View more