CHICAGO — Naming property tax reform as its top legislative priority in the coming year, the Indiana General Assembly this week launched the first in a series of hearings to consider Gov. Mitch Daniels sweeping overhaul of the state’s property tax system, which includes proposals that would dramatically alter local government and school debt issuance.

“The whole atmosphere in the state is that something pretty significant is going to happen,” said James Merten, vice chairman of the public finance group at City Securities Corp. “Whether it stops [bond issuance] or slows it down or makes you do it in a different way, we’ll have to wait and see.”

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