SB 290 IN

0likes☆Favorite🔕SubscribeShare

Passed One Chamber

Requires the department of local government finance to increase the maximum permissible property tax levy for certain qualifying municipalities for property taxes first due and payable in 2025 to include all debt service levies of the qualifying municipality for property taxes first due and payable in 2025. Specifies that the adjustment is a one time and permanent increase. Changes the local income tax trust account threshold percentage of a county that contains a qualifying municipality, which is used for purposes of determining whether the county shall receive a supplemental distribution. Modifies the certified share allocation determination for a qualifying municipality. Prohibits the use of funds from the state general fund to make up certain local income tax related shortfalls.

• Kyle Walker Republican · author
• Travis Holdman Republican · author
• Jeffrey Thompson Republican · sponsor

1. Jan 13, 2025 Authored by Senators Walker K and Holdman · upper
2. Jan 13, 2025 First reading: referred to Committee on Tax and Fiscal Policy · upper
3. Feb 11, 2025 Senator Randolph added as coauthor · upper
4. Feb 11, 2025 Committee report: amend do pass, adopted · upper
5. Feb 13, 2025 Second reading: ordered engrossed · upper
6. Feb 17, 2025 Cosponsor: Representative Snow · upper
7. Feb 17, 2025 House sponsor: Representative Thompson · upper
8. Feb 17, 2025 Third reading: passed; Roll Call 141: yeas 47, nays 0 · upper
9. Feb 18, 2025 Referred to the House · upper
10. Mar 3, 2025 First reading: referred to Committee on Ways and Means · lower