IN HB1317 | 2024 | Regular Session
Status
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Introduced on January 10 2024 - 25% progression
Action: 2024-01-10 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 10 2024 - 25% progression
Action: 2024-01-10 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
State payments in lieu of property taxes. Requires the state to make payments in lieu of property taxes (PILOTs) for qualified parcels in qualified counties in which the lesser of 19%, or 5,000 acres, of all land in the qualified county is: (1) owned or leased by the state or the federal government; and (2) subject to an exemption from property taxes. Defines "qualified parcel" as a parcel that is: (1) owned or leased by the state; (2) subject to an exemption from property taxes; and (3) located in a qualified county. Provides that a qualified county containing qualified parcels is entitled to receive PILOTs from the state. Prohibits an underlying taxing unit of a qualified county from receiving PILOTs. Provides that, for purposes of calculating a PILOT, each acre of the qualified parcel is considered to have an assessed value of 1/2 of the statewide agricultural land base rate value. Provides that money received from the PILOTs must be used by a qualified county only for: (1) any public safety expense; and (2) infrastructure expenditures, including water quality improvements. Continuously appropriates from the state general fund the amount necessary to pay the required PILOTs.
Title
State payments in lieu of property taxes.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-01-10 | House | First reading: referred to Committee on Ways and Means |
| 2024-01-10 | House | Authored by Representative Hall |
| 2024-01-10 | House | Coauthored by Representatives Patterson, Haggard, Pierce M |
