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House Bill 1257

House Bill 1257

ARCHIVE (2002)

Latest Information

DIGEST OF HB 1257 (Updated March 14, 2002 10:16 PM - DI 77)

Indianapolis administration. Authorizes charter schools in Indianapolis that are sponsored by the mayor to do financings through the Indianapolis bond bank. Authorizes charter schools other than those in Indianapolis sponsored by the mayor to do financings through the state bond bank. Allows the Indianapolis City-County Council to negotiate with property owners the amount of payments in lieu of taxes (PILOTS) charged to properties that are partially or totally exempt from property taxation because the properties are used to provide housing for low income persons under the federal low income housing tax credit program. Provides that the PILOTS may not exceed the amount of property taxes that would have been imposed if the properties were not subject to an exemption. Reconciles conflicts within the low income housing program property tax exemption statute.
Current Status:
Law Enacted
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