[r59] House Republicans Propose $200 Million Immediate Property Tax Relief Plan (7/31/2007)

Tuesday, July 31, 2007

Start Date: 7/31/2007 All Day
End Date: 7/31/2007
(STATEHOUSE) Wednesday, August 01, 2007 - Representative Milo Smith joined House Republican leaders today to renew their call for immediate relief for Hoosier property taxpayers, proposing a $200 million relief plan they hope will serve as a basis for agreement and action in a special session of the General Assembly.

House Republican Leader Brian Bosma delivered a letter this morning to Governor Daniels, Speaker Bauer, President Pro Tem Long and Senate Minority Leader Young, calling for immediate discussions among legislative leaders, and proposing a five point plan to solve the current tax crisis immediately. If a consensus can be reached, House Republicans are asking the Governor to call a special session of the General Assembly to adopt the relief plan.

"Providing immediate relief for homeowners is the most important goal now," stated Rep. Smith. "We are presenting a number of ideas that we had talked about during session and I believe they are even more relevant now that tax bills have gone out. The property tax rebate program must be changed to a tax credit so that homeowners see immediate relief. These are just a few ideas that can provide immediate relief. I am hopeful that the other legislative caucuses will decide to examine our plan and take action."

The five point plan to grant immediate relief to the hardest hit residential taxpayers will: (1) convert the rebate check (which some have predicted will now be issued as late as February of 2008) to a credit on the fall 2007 installment of taxes; (2) extend the deadline for filing of the homestead credit for 2007 to September 15 of this year; (3) grant local counties the flexibility to apply the credit to those individuals and communities hardest hit by recent tax increases; (4) freeze child welfare levies in 2007, with the state picking up all levy increases for 2007 and following years; and (5) appropriate an additional $100 million of state funds toward immediate residential property tax relief. Items 1, 4, and 5 would be distributed as a credit on fall 2007 tax bills.

For more information, please contact State Representative Milo Smith at the Statehouse, 200 W. Washington St., Room 401, Indianapolis, IN 46204, 1-800-382-9841, h59@in.gov.

-30-