Property taxes.

Authors: Senator Randall Head, Senator Ed Charbonneau, Senator Joseph Zakas

Co-authors: Senator Timothy Lanane, Senator Timothy Skinner, Senator Ryan Mishler, Senator Patricia Miller, Senator Karen Tallian, Senator Douglas Eckerty, Senator Michael Crider

Sponsors: Representative William Friend

Co-Sponsors: Representative Sue Errington

Digest

Provides that for all taxing units, the maximum amount allowed for an operating balance for a debt service fund is 50% for 2015 through 2018 of the budget estimate for annual debt service payments from the fund for debt originally incurred before July 1, 2014, and 10% on debt originally incurred after June 30, 2014, and for all debt after 2018. Permits a school corporation that experiences at least a 20% loss to the school corporation's transportation fund due to circuit breaker credits in 2014, 2015, or 2016 to use a proportional circuit breaker credit allocation for that year.