DIGEST OF INTRODUCED BILL
School property taxes and an exemption for seniors. Authorizes a school corporation to impose a school option income tax. Eliminates the power of a school corporation to impose a property tax levy for the school corporation's general fund or a charter school after 2007. Provides a property tax credit payable from the property tax replacement fund to a homestead owner who is at least 65 years of age and whose adjusted gross income is less than $70,000. Makes related changes.