Joni's Notes From the Statehouse...Today the Senate Committee on Tax & Fiscal Policy voted 9-0 on the amended HB1001; the committee agreed that there was still much work to do.
What's has changed:
-Pick up of school general funds and child welfare & cost of school debt service, juvenile incarceration, school pension debts, and police and fire pensions based on pre-1977 plans ($90M)
-County Councils will only review and make recommendations on all budgets for local taxing units (rather than give approval)
Senate Tax Chairman Luke Kenley (R-Noblesville) said that if counties implement a half-percent increase in their local option income taxes in addition to the other changes in HB 1001, that homeowners would see their bills shrink an average of 50.6 percent statewide by 2010 over what they otherwise would have been. Without the local income tax increase, homeowners' bills would shrink 35.7 percent on average statewide by 2010.
No comments:
Post a Comment