February 9, 2001





HOUSE BILL No. 1591

_____


DIGEST OF HB 1591 (Updated February 7, 2001 5:58 PM - DI 73)



Citations Affected: IC 6-1.1; noncode.

Synopsis: Tax abatement. Specifies that the provision limiting a property tax abatement for new manufacturing equipment to the extent that it would cause the assessed value of all personal property of the owner in the taxing district in which the equipment is located to be less than the assessed value of all personal property of the owner in that taxing district in the immediately preceding year does not apply to new manufacturing equipment located in Gibson County if the total cost of all new manufacturing equipment placed into service in the county by the owner exceeds $500,000,000 and the economic revitalization area in which the new manufacturing equipment was installed was approved by the designating body before January 1, 2001.

Effective: March 1, 2001 (retroactive).





Frenz , Kruse




    January 17, 2001, read first time and referred to Committee on Ways and Means.
    February 8, 2001, reported _ Do Pass.







February 9, 2001

First Regular Session 112th General Assembly (2001)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 2000 General Assembly.

HOUSE BILL No. 1591



    A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 6-1.1-12.1-4.7; (01)HB1591.1.1. -->     SECTION 1. IC 6-1.1-12.1-4.7 , AS ADDED BY P.L.126-2000, SECTION 7, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE MARCH 1, 2001 (RETROACTIVE)]: Sec. 4.7. (a) Section 4.5(f) of this chapter does not apply to new manufacturing equipment located in a township that:
        (1) has a population of more than three thousand five hundred (3,500) but less than four thousand three hundred (4,300); and
        (2) is located in a county having a population of more than thirty-five thousand (35,000) but less than thirty-seven thousand (37,000);
if the total original cost of all new manufacturing equipment placed into service by the owner during the preceding sixty (60) months exceeds fifty million dollars ($50,000,000), and if the economic revitalization area in which the new manufacturing equipment was installed was approved by the designating body before September 1, 1994.
     (b) Section 4.5(f) of this chapter does not apply to new

manufacturing equipment located in a county having a population of more than thirty-one thousand five hundred (31,500) but less than thirty-two thousand (32,000) according to the 1990 federal decennial census if:
        (1) the total original cost of all new manufacturing equipment placed into service in the county by the owner exceeds five hundred million dollars ($500,000,000); and
        (2) the economic revitalization area in which the new manufacturing equipment was installed was approved by the designating body before January 1, 2001.

SOURCE: ; (01)HB1591.1.2. -->     SECTION 2. [EFFECTIVE MARCH 1, 2001 (RETROACTIVE)] IC 6-1.1-12-4.7 (b), as added by this act, applies only to property taxes first due and payable after December 31, 2001.
SOURCE: ; (01)HB1591.1.3. -->     SECTION 3. An emergency is declared for this act.