21 Hoosier Banker May 2016 Indiana Redevelopment Authority (RDA) in satisfaction of Lake County’s obligations to the authority equally among the four riverboats operating in Lake County. It changes the deadline for paying the supplemental distribution from Sept.15 to July 15. The bill provides for quarterly payments of admission taxes used to reimburse the state for certain income tax credits provided in Lake County and to provide additional funding to the authority. It eliminates the requirement that admissions taxes paid to the Lake County Convention and Visitor Bureau be deposited in a county convention and visitor promotion fund. The bill provides that the economic development projects that may be carried out by the RDA include destinationbased economic development projects that meet certain conditions. It also provides that the RDA may make loans, loan guarantees and grants, or provide other financial assistance to or on behalf of a member municipality that meets certain requirements. Local Data Reporting: This bill authorizes the Department of Local Government Finance (DLGF) to incorporate by reference in an administrative rule certain formatting, coding and transmission requirements for data that must be submitted by counties. It specifies additional information that must be reported by each redevelopment commission to the unit’s executive and fiscal body and to the DLGF. Discharge of Interest: The bill provides that the treasurer of state shall discharge any remaining unpaid interest on the obligation issued by the Capital Improvement Board (CIB) to the treasurer of state in 2009, if the CIB submits payment of the principal amount to the Treasurer of State before the stated final maturity of that obligation. Industrial Recovery Tax Credit: This bill specifies that, for purposes of the industrial recovery tax credit, “industrial recovery site” means land on which a vacant plant having at least 100,000 square feet of total floor space: (1) exists as of the date an application is filed with the Indiana Economic Development Corp. (IEDC) and was placed in service at least 15 years before the date on which an application is filed with the IEDC; or (2) existed five years before the date an application is filed with the IEDC and was placed in service at least 15 years before the date on which the vacant plant was demolished. The bill deletes from current law the process involving an application to the IEDC for designation of a location as an industrial recovery site. It provides that if the IEDC approves a taxpayer’s application for an industrial recovery tax credit, the IEDC shall require the applicant to enter into an agreement as a condition of receiving a tax credit. Market Segmentation: The bill repeals provisions enacted in 2015 concerning the assessment of: (1) certain limited market or special purpose property; and (2) commercial non-income-producing real property. It provides that in addition to the factors under current law, the DLGF shall also provide for the classification of improvements on the basis of market segmentation. Property Tax Appeal: This bill provides that a holder of a tax sale certificate may not bring a property tax appeal. Internal Revenue Code (IRC): The bill updates the definition of the Internal Revenue Code to incorporate changes made by Congress through Jan. 1, 2016. Gas Tax: This bill provides for refund of any gasoline tax paid on a fuel blend nominally consisting of more than 89 percent ethanol and less than 11 percent gasoline. Misdemeanant Fund: The bill reestablishes the County Misdemeanant Fund formula that was repealed by HEA 10062015. Safety PIN Program: This bill provides that an initial award from the Safety PIN (Protecting Indiana’s Newborns) grant fund may be up to 60 percent of the total approved grant amount. It specifies that the 2015 budget act appropriation from the tobacco master settlement agreement fund to the Safety PIN program is to be deposited in the Safety PIN Grant Fund, and that any unused appropriation remains in the Safety Pin Grant Fund. Redevelopment Commission Funds: The bill specifies that the following apply to funds of redevelopment commissions: (1) the funds must be accounted for separately, and the daily balance of the funds must be maintained in a separate ledger statement; (2) the funds must be accessible to the redevelopment commission at any time, unless this requirement is waived by the redevelopment commission; (3) the amount of the daily balance of the funds must not be below zero at any time; (4) the funds may not be maintained or used in a manner that is intended to avoid the procedures and requirements for a waiver. The bill provides that a fiscal body of a unit may request approval from the redevelopment commission to waive the requirement that all funds must be accessible to the redevelopment commission. It provides that, if a loan is made to a unit from the funds, the loan must be repaid by the unit no later than the end of the calendar year. Property Tax Exemption: This bill allows certain property taxpayers to file for a property tax exemption, if the property would have qualified for the exemption if an exemption application had been timely filed. Details: This was one of several omnibus tax bills moving this session. The IBA fought successfully to exclude language being proposed that would have required the state auditor to study how to create a state-run retirement program available for private employers. The bill also removes the “fix” from last session of the box store assessment issue, and replaces the assessed value application with a market segmentation approach to determine future assessed valuation of business property for property tax purposes. The market segmentation language was previously in another omnibus tax bill: SB 308. SB 11 – Able Savings Accounts; Medicaid Reimbursement Rates Sen. Luke Kenley, R-Noblesville Rep. Ed Clere, R-New Albany Bill summary: This bill has the following provisions: (1) creates the “Achieving a Better Life Experience” (ABLE) Authority; (2) establishes the ABLE board of the authority; (3) provides that the authority may establish a qualified ABLE program, under which a person may make contributions for a taxable year for the benefit of an eligible individual with a disability to an ABLE account to meet the qualified disability expenses of the designated beneficiary in compliance with federal law; (4) sets forth duties and powers of the authority and the board; (5) establishes a general operating fund, endowment fund and trust fund; (6) removes language that specifies Medicaid reimbursement rates for services provided by: (a) an ICF/MR facility; or (b) a community residential facility for the developmentally disabled; and (7) voids an administrative rule that specifies Medicaid reimbursement rates for services by these facilities. Continued on page 22.
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