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House Bill 1588

House Bill 1588

ARCHIVE (2003)

Latest Information

DIGEST OF HB1588 (Updated February 26, 2003 2:52 PM - DI 84)

Payments in lieu of taxes. Indicates that the exemption from property taxes granted to low income housing applies only to county, city, and town property taxes. Eliminates the authority of a political subdivision other than a county, city, or town to enter into an agreement to exempt a low income housing project from property taxes. Provides uniform statewide procedures for the creation and use of payments in lieu of taxes paid by a low income housing project that is granted an exemption from property taxation. Extends the authority granted to Marion County to establish housing tax incentive areas to other counties.
Current Status:
In Committee - 2nd House
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