2018 Indiana Code
TITLE 6. Taxation
ARTICLE 1.1. PROPERTY TAXES
CHAPTER 18.5. Civil Government Property Tax Controls
6-1.1-18.5-19.1. Tax levy limits on bank personal property; not applicable to taxes payable after 2016; one-time adjustment to levy limit; expiration
Sec. 19.1. (a) This subsection does not apply for property taxes first due and payable after December 31, 2016. The ad valorem property tax levy limits imposed by section 3 of this chapter do not apply to ad valorem property taxes imposed on personal property of banks that became subject to assessment in 1989 and thereafter because of IC 6-1.1-2-7.
(b) This subsection does not apply for property taxes first due and payable after December 31, 2016. For purposes of computing the ad valorem property tax levy limits imposed under section 3 of this chapter, a civil taxing unit's ad valorem property tax levy for a particular calendar year does not include that part of the levy imposed on bank personal property as provided in subsection (a).
(c) For budget year 2017, the department of local government finance shall make a one (1) time permanent adjustment to the ad valorem property tax levy limits imposed by section 3 of this chapter in an amount equal to the excluded levy under subsection (b) for budget year 2016.
(d) This section expires July 1, 2018.
As added by P.L.347-1989(ss), SEC.3. Amended by P.L.1-1990, SEC.72; P.L.184-2016, SEC.18.
