Legislative Recap: Short Session, Long Results

Hoosier Banker, Apr 2008 by Van Til, Amber R, Neese, Beth

* Voters will be required to approve major building projects in referendums;

* Non-elected boards will be required to have their budgets reviewed by county councils;

* Township assessors are eliminated in all areas except those with more than 15,000 parcels - the remaining assessors are subject to a referendum vote in November to determine whether they also should be eliminated;

* Senior citizens are provided additional assistance through 2 percent per year growth caps on their bills;

* Lower-income workers are assisted through an increase from 6 percent to 9 percent in the earned income tax credits;

* Renters are provided an additional $500 income tax deduction, increasing the total allowed from $2,500 to $3,000;

* Standard deduction for homeowners is increased from the lesser of $45,000 or 50 percent of assessed value to the lesser of $45,000 or 60 percent of assessed value;

* Provides for a new supplemental homestead deduction of 35 percent of the next $600,000 of assessed value after applying the standard deduction, and 25 percent of remaining assessed value over $600,000;

* Provides that certain interest earned by the public deposit insurance fund continues to be used to pay local police and firefighter pensions through 2022. (Under current law, the interest would be used for this purpose through 2012.) Language remains that provides that, if the public deposit insurance fund is found to not be actuarially sound, the interest diversion will cease.

As of this writing, HB 1001 is expected to be signed by Gov. Daniels.

AMBER R. VAN TIL and BETH NEESE

Vice Presidents-Government Relations

Indiana Bankers Association

ABOUT THE AUTHORS

Amber R. Van Til is vice president-government relations of the Indiana Bankers Association. She joined the Community Bankers Association of Indiana in 2002 and has retained her title as VP-government relations for the IBA upon completion of the merger of the two organizations. Van Til is primarily responsible for all state legislative issues concerning Indiana's banking industry. She earned a bachelor's degree from the University of Indianapolis and a JD from the Indiana University School of Law. She is a member of the Governmental Affairs Society of Indiana, of the Columbia Club and of the Indiana Society of Association Executives. Van Til can be reached at 317-387-9380, avantil@indianabankers.org.

Beth Neese also serves the IBA as vice president-government relations. She lobbies on behalf of the banking industry and represents the industry before regulatory agencies. She is active with the IBA annual Washington DC goodwill trip, the annual legislative reception, Indiana BANKPAC, the IBA Key Contact Banker Committee and updates the government relations news section of IBA E-Neus. Before joining the IBA in 2004, Neese was a consultant to America's Community Bankers in Washington DC and president of The Neese Group, focusing on legislative and regulatory issues. She had prior experience with Newmyer Associates Inc., David Turch and Associates, the National Council of Savings Institutions and as a legislative assistant in the U.S. House of Representatives. Neese earned bachelor's and master's degrees from Indiana University. She can be reached at 317-387-9380, bneese@indianabankers.org.