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House Bill 1059


House Bill 1059

ARCHIVE (2010)

Latest Information

 

DIGEST OF HB 1059 (Updated March 4, 2010 9:52 pm - DI 52)


Property tax collections. Provides that provisional property tax bills are required rather than optional if the county auditor fails to deliver the abstract for an assessment date to the county treasurer before April 1 of the year following that assessment date. Provides that the department of local government finance (DLGF) may waive the requirement that a provisional bill must be used if the DLGF determines that certain conditions have been met. Provides that the first installment of a provisional bill is equal to 50% of the tax liability that was payable in the same year as the assessment date for the property for which the provisional bill is issued, subject to any adjustments to the tax liability authorized by the DLGF and approved by the county treasurer. Provides that the second installment is either the amount specified in a reconciling statement or, if a reconciling statement is not sent until after the second installment is due, an amount equal to 50% of the tax liability that was payable in the same year as the assessment date for the property for which the provisional bill is issued, subject to any adjustments authorized by the DLGF and approved by the county treasurer. Directs the DLGF to authorize the types of adjustments to tax liability permitted on provisional statements and to notify county treasurers of that authorization. Provides that certain information is not required to be included on a provisional bill, but must be included on the reconciling statement. Deletes certain information from the informational notice that must accompany a provisional statement. Requires the county treasurer to: (1) place in a separate account in the county general fund penalties collected as a result of late payments on provisional and reconciling statements; (2) use the account only to defray the costs of mailing or transmission of provisional and reconciling statements; and (3) deposit excess money in the account in the county reassessment fund. Entitles a taxing unit to interest generated by the county on property tax collections if the county treasurer fails to meet the deadline for compliance with a request for advance distribution of the collections.
Current Status:
 Law Enacted
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