Joint Resolution Between City of South Bend and South Bend Community School Corp. Jointly Opposing Legislation Reducing or Elminating Business Personal Property Taxes

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i RESOLUTION NO. 32-1 —t A JOINT RESOLUTION BY AND BETWEEN THE CITY OF SOUTH BEND, INDIANA AND THE SOUTH BEND COMMUNITY SCHOOL CORPORATION JOINTLY OPPOSING LEGISLATION REDUCING OR ELIMINATING BUSINESS PERSONAL PROPERTY TAXES WITHIN THE STATE OF INDIANA WHEREAS, Governor Michael R. Pence and other Indiana legislative leaders have proposed the elimination of the Business Personal Property Tax; and WHEREAS, proponents of the elimination have consistently affirmed that the Business Personal Property Tax is a hindrance to the business climate in Indiana, yet numerous publications consistently rank Indiana 1 st in the Midwest in Business Climate and Top 10 in the Nation in Business Tax Climate from the non - profit Tax Foundation; and WHEREAS, Governor Pence stated in a January 10th jobs announcement, "Today's announcement continues to prove why Indiana is the best state in the nation to start or grow a business "; and WHEREAS, it is estimated the loss of revenue to the City of South Bend would be approximately $8,000,000 and would necessitate significant cuts to police, fire, public works, parks and recreation and other essential City service departments; and WHEREAS, if the elimination were to take place, the South Bend Community School Corporation estimates its total revenue loss would be approximately $3,413,000. Necessary cuts to transportation, bus replacement, school building maintenance and technology upgrades would all follow; and WHEREAS, the City of South Bend firmly believes that quality of life amenities and economic development go hand -in -hand as our residents require essential and community services that are paid for from Business Personal Property Taxes; and WHEREAS, the statewide elimination of the Business Personal Property Tax would significantly harm economic development efforts locally where South Bend has seen significant economic growth and continues to be a leader in Indiana. NOW THEREFORE BE IT RESOLVED BY THE CITY OF SOUTH BEND, INDIANA AND THE SOUTH BEND COMMUNITY SCHOOL CORPORATION AS FOLLOWS: SECTION I: The City of South Bend, Indiana, and the South Bend Community School Corporation stand firmly opposed to any attempts which would diminish the revenue collected from the Business Personal Property Tax without a stable and equal revenue stream to replace the lost dollars and urge our local legislators to vote agains SECTION II: This Resolution Common Council and approval by the pRESINI'ED .2- -1.� —� ,FIOT APPROVED "OPTED 3assage by the