Sec. 12. (a) A party to a conveyance who: (1) either: (A) files a sales disclosure form that does not contain all of the information required by this chapter; or (B) files a sales disclosure form that contains inaccurate information; and receives from the township assessor (in a county containing a consolidated city) or the county assessor (in any other county) written notice of the problems described in clause (A) or (B); and (2) fails to file a correct sales disclosure form that fully complies with all requirements of this chapter within thirty (30) days after the date of the notice under subdivision (1); is subject to a penalty in the amount determined under subsection (b). (b) The amount of the penalty under subsection (a) is the greater of: (1) one hundred dollars ($100); or (2) twenty-five thousandths percent (0.025%) of the sale price of the real property transferred under the conveyance document. (c) The township assessor in a county containing a consolidated city, or the county assessor in any other county, shall: (1) determine the penalty imposed under this section; (2) assess the penalty to the party to a conveyance; and (3) notify the party to the conveyance that the penalty is payable not later than thirty (30) days after notice of the assessment. (d) The county auditor shall: (1) collect the penalty imposed under this section; (2) deposit penalty collections as required under section 4 of this chapter; and (3) notify the prosecuting attorney of the appropriate judicial circuit of delinquent payments. (e) The prosecuting attorney of the appropriate judicial circuit shall initiate an action to recover a delinquent penalty under this section. In a successful action against a person for a delinquent penalty, the court shall award the prosecuting attorney reasonable attorney's fees.
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