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Senate Bill 0344

Senate Bill 0344

ARCHIVE (2012)

Latest Information

DIGEST OF SB 344 (Updated February 22, 2012 8:01 pm - DI 92)

Taxation. Specifies the assessed value for outdoor signs for the 2011 through 2012 assessment dates. Changes the formula for adjusting the maximum permissible capital projects fund levy. Repeals an obsolete adjustment formula. Permits the fiscal body of a city or town, or the county, in the case of an unincorporated area, to authorize the unit's redevelopment commission to establish a residential historic rehabilitation grant program. Provides a sales tax exemption for sales of wrapping material and empty containers that are acquired for shipping or delivering certain tangible personal property. Exempts from the utility receipts tax any payments of severance damages or other compensation resulting from a change in assigned service area boundaries between electricity suppliers. Specifies that industrial processors and those engaged in floriculture and arboriculture do not have to file a sales tax refund claim if the utility service is separately metered, or it has been determined that the utility service is predominantly used in industrial processing, horticulture, or arboriculture. Changes numerous tax filing and reporting requirements. Removes the prohibition of taking a case to the tax court if the department of state revenue takes longer than three years to settle a claim. Extends the income tax credits for venture capital investments, Hoosier business investments, alternative fuel manufacturing, and new employers through December 31, 2016. Corrects references to the Internal Revenue Code in the income tax law. Provides for a continuous abatement notice regarding weeds and vegetation. Assigns various topics to interim study committees. Authorizes Miami County to adopt an ordinance changing the means by which it provides property tax relief through an additional county option income tax rate. Provides an alcoholic beverage excise tax credit for certain liquor or wine excise taxes paid in duplicate. Terminates the state video franchise fee on January 1, 2013. Allows local units to replace the state franchise fee with a local fee of not more than 3% that must apply to both cable and satellite service. Specifies that facilities leased from the ports of Indiana may not become exempt because of the lease. Provides that unpaid property taxes on a facility leased from the ports of Indiana are a liability of the lessee and are not a liability of the ports of Indiana or a subsequent tenant or occupant of the leased facility. Requires a county treasurer to provide written notice to the ports of Indiana within thirty (30) days of any determination that a person liable for property taxes due on a facility leased from the ports of Indiana or the site of the leased facility has failed to pay the property taxes. Allows an adjustment to the sales tax base period amount or the income tax base period amount for the certified technology park in Madison County. Permits a nonprofit organization serving the homeless to file a late property tax exemption application to receive exemptions for the 2008 and 2009 assessment dates.
    Current Status:
    Out of Committee 2nd House
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