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House Bill 1166


House Bill 1166

ARCHIVE (2000)

Latest Information

 

DIGEST OF HB1166 (Updated February 15, 2000 2:16 PM - DI 58)


Housing trust fund. Establishes a property tax exemption for certain real property located in Marion County that was constructed, rehabilitated, or acquired to provide housing to income eligible persons under the federal low income housing tax credit program. Permits the city- county council in Marion County to enter into agreements concerning payments in lieu of taxes for the same real property, and provides that the payments are to be deposited in the housing trust fund. Permits the Marion County metropolitan development commission to establish a supplemental housing program and a tax increment allocation area for the purpose of providing financial assistance to low-income individuals and families to enable them to purchase or lease residential units. Requires the Marion County metropolitan development commission to establish a housing trust fund. Restricts the use of the proceeds of the trust fund to individuals and families who are at or below certain income levels. Provides for the administration of the trust fund. Creates the low income housing trust fund advisory committee.
Current Status:
 Law Enacted
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