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DIGEST OF INTRODUCED BILL
Township assistance tax rate. Separates the township assistance levy from the township's general fund levy, and provides for a levy based on a rate calculation that must be used to determine a township assistance levy after 2013. Specifies that the township assistance levy may not exceed the amount that would be raised by a tax rate equal to: (1) the 2013 statewide average township assistance property tax rate multiplied by eight; multiplied by (2) the school complexity index for the largest school corporation in the township. Provides that for a township that has a 2013 township assistance tax rate above this calculated maximum rate, the change is phased in over two years. Provides that if the calculated maximum rate for a township for 2014 is greater than or equal to the 2013 rate, the assessed value growth quotient (AVGQ) applies for 2014 and thereafter. Provides that for other townships, the AVGQ applies after 2015, after the new rate is fully phased in. Permits a township to increase the township assistance levy only if there is a corresponding reduction in the township's general fund levy. Specifies that if the township is located in a county for which a local option income tax for property tax levy freeze purposes is first imposed or increased, the township assistance fund levy remains the same for that year.