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Last updated on Wednesday, September 17, 2014
(INDIANAPOLIS) - The Indianapolis City-County Council’s Administration and Finance Committee tabled a proposal Tuesday night to eliminate the local homestead tax credit.
Eliminating the tax credit was proposed by Mayor Greg Ballard to help fund his pre-kindergarten program for low-income families.
Ballard's spokesman Marc Lotter says he's not surprised by the committee's action.
"Even though the council commission recommended doing this on two separate occasions, they rejected those recommendations of their own commission."
Lotter says there are a number of other potential funding options being proposed to the council. He says the bottom line for the mayor is to get the pre-K plan approved with sustainable funding so kids can start enrolling in high quality preschool beginning next fall.
The committee's decision to table the proposal came without any discussion among councilors or from the public. It followed nearly three hours of budget hearings during Tuesday's committee meeting.
Lotter says the homestead tax credit option is effectively gone.
"If you're going to make changes to taxes, it would have to be done by (next) Monday in order to meet the state deadlines for approval and notification. So that proposal would be out the door."
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