Introduced Version






HOUSE BILL No. 1652

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DIGEST OF INTRODUCED BILL



Citations Affected: IC 6-2.5-5-39.

Synopsis: Riverboat tax exemption. Provides a partial use tax exemption for riverboats assessed as real property under the real property assessment law. Allows claims for refunds on use taxes paid since 1996.

Effective: January 1, 1996 (retroactive).





Harris




    January 17, 2001, read first time and referred to Committee on Ways and Means.







Introduced

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.
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HOUSE BILL No. 1652



    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 6-2.5-5-39; (01)IN1652.1.1. -->     SECTION 1. IC 6-2.5-5-39 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JANUARY 1, 1996 (RETROACTIVE)]: Sec. 39. (a) As used in this section, "riverboat casino" means a riverboat licensed under IC 4-33 and defined as real property in IC 6-1.1-1-15.
    (b) The sale of a riverboat casino is exempt from the state gross retail tax to the extent that the gross retail income from the sale is not attributable to the cost of materials used in manufacturing the riverboat casino.
    (c) For purposes of this section, the part of the gross retail income not attributable to the cost of materials used in manufacturing a riverboat casino is thirty-five percent (35%) of the gross retail income derived from the sale of the riverboat casino.
    (d) The gross retail income derived from the sale of a preowned riverboat casino is exempt from the state gross retail tax.

SOURCE: ; (01)IN1652.1.2. -->     SECTION 2. [EFFECTIVE JANUARY 1, 1996 (RETROACTIVE)]

(a) IC 6-2.5-5-39 , as added by this act, applies to sales occurring after December 31, 1995.
    (b) A person who has paid use tax on a riverboat sold after December 31, 1995, and before July 1, 2001, may claim a refund of use taxes paid to the extent the exemption added by IC 6-2.5-5-39 , as added by this act, applies.

SOURCE: ; (01)IN1652.1.3. -->     SECTION 3. An emergency is declared for this act.