CHICAGO -Indiana Gov. Mitch Daniels is expected to sign into law today a sweeping overhaul of the state's property tax system - including a new rule requiring voter approval of most local bond issues as well as new limitations on how bonds can be structured.

Lawmakers approved the massive bill last Friday, on the last day of a three-month session that was dominated by debates over property tax and local spending reforms. The new statute follows closely the original proposal put forth by Daniels in mid-2007 after rising protests from homeowners whose tax bills doubled and sometimes tripled in one year.

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