CHICAGO - Indianapolis' long-planned $460 million pension obligation bond issue may no longer be needed under a measure passed by a key Senate committee, which would have the state assume pre-1977 public safety pension liabilities now carried by municipalities across Indiana.

The measure was one of several amendments the powerful Senate Tax and Fiscal Policy committee earlier this week made to Gov. Mitch Daniels' massive property tax reform bill as it winds its way through the General Assembly. The Democrat-led House passed the bill Jan. 24.

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