Senate Bill 1 (2004) impact?

This article from the Muncie Star Press indicates that the property tax controls imposed by SEA 1 in the November 2003 "mini-session" are having an impact:

"Delaware County collected $5 million more in property taxes in 2004 than allowed by state tax controls. That could mean some local governments and schools face budget shortfalls in 2006 while taxpayers would see some unexpected tax relief."