LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
200 W. Washington St., Suite 301
Indianapolis, IN 46204
(317) 233-0696
iga.in.gov
FISCAL IMPACT STATEMENT
LS 6677 NOTE PREPARED: Dec 28, 2021
BILL NUMBER: SB 322 BILL AMENDED:
SUBJECT: Lake County Tax Valuation Methods.
FIRST AUTHOR: Sen. Melton BILL STATUS: As Introduced
FIRST SPONSOR:
FUNDS AFFECTED: X GENERAL IMPACT: State
DEDICATED
FEDERAL
Summary of Legislation: This bill urges the Legislative Council to assign to an appropriate interim study
committee the task of studying the issue of the impact that tax valuation methods for steel mill equipment,
oil refinery equipment, and petrochemical equipment have on Lake County. The bill provides that the study
should specifically include the topic of what effect the current valuation method has on real property tax
assessments in Lake County and what potential alternative valuation methods are available.
Effective Date: Upon passage.
Explanation of State Expenditures: The Legislative Council could assign the topic to an existing interim
study committee or establish a new interim study committee to study this topic during the next interim.
Interim study committees operate on budgets established by the Legislative Council based on committee size.
Legislative Council resolutions in the past have established budgets for interim study committees in the
amount of $13,500 per interim for committees with fewer than 16 members and $17,500 for committees with
16 members or more. If the Legislative Council were to assign this topic to an existing committee and the
committee were to have any extra meetings to address this topic, there would be additional expenditures for
legislator per diem and travel reimbursement for the committee members. Any additional expenditures must
be within the committee’s budget.
Explanation of State Revenues:
Explanation of Local Expenditures:
Explanation of Local Revenues:
SB 322 1
State Agencies Affected: General Assembly.
Local Agencies Affected:
Information Sources:
Fiscal Analyst: Austin Spears, 317-234-9454.
SB 322 2