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Adopted Rejected


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COMMITTEE REPORT


                                                        YES:

25

                                                        NO:
0

MR. SPEAKER:

    Your Committee on       Ways and Means     , to which was referred       Senate Bill 462     , has had the same under consideration and begs leave to report the same back to the House with the recommendation that said bill be amended as follows:

SOURCE: Page 2, line 34; (02)CR046201.2. -->     Page 2, line 34, delete "exemption" and insert " credit".
    Page 4, line 17, delete "applicant intends to:" and insert " applicant:".
    Page 4, line 18, after "(A)" insert " intends to".
    Page 4, line 23, delete "retain" and insert " retains".
    Page 4, line 24, delete "two" and insert " six".
    Page 4, line 24, delete "(1,200)" and insert " (1,600)".
    Page 4, line 36, delete "exemption" and insert " credit".
    Page 5, line 12, delete "exemption" and insert " credit".
    Page 5, line 14, delete "exemption" and insert " credit".
    Page 5, delete lines 16 through 21, begin a new paragraph and insert:
    " Sec. 10. (a) A high impact business is entitled to a credit against the business's property tax liability under IC 6-1.1-2 for a particular year following the designating body's adoption of a resolution taking final action under section 8 of this chapter.
    (b) A certified copy of the resolution shall be sent to the county auditor, who shall grant the credit as provided in section 11 of this chapter.
    (c) A high impact business may not claim a credit under section 11 of this chapter for more than ten (10) years.
".
    Page 5, line 23, delete "exemption" and insert " credit".
    Page 5, line 24, delete "exemption" and insert " credit".
    Page 5, line 26, delete "exemption" and insert " credit".
    Page 5, line 31, delete "exemption" and insert " credit".
    Page 5, line 36, delete "exemption" and insert " credit".
    Page 5, line 39, delete "exemption." and insert " credit.".
    Page 6, line 1, delete "exemption" and insert " credit".
    Page 6, line 3, delete "exemption." and insert " credit.".
    Page 6, line 4, after "tax" delete "exemption" and insert " credit".
    Page 6, line 4, after "of the" delete "exemption" and insert " credit".
    Page 7, line 8, delete "exemption" and insert " credit".
    Page 7, line 10, after "occurs" insert " more than ten (10) years".
    Page 7, line 10, after "after" insert " the first year in which the high impact business claimed a property tax credit under section 11 of this chapter.".
    Page 7, delete lines 11 through 12.
    Page 7, line 14, delete "exemption" and insert " credit".
    Page 7, line 16, delete "exemption" and insert " credit".
    Page 7, line 25, delete "exemption" and insert " credit".
    Page 7, line 29, delete "exemption" and insert " credit".
    Page 7, line 35, delete "exemption." and insert " credit.".
    Page 7, line 36, delete "exemption" and insert " credit".
    Page 8, line 7, delete "exemption" and insert " credit".
    Page 8, line 14, after "of" insert " property tax credits received by".
    Page 8, line 15, delete "owner's property taxes that were exempted" and insert " owner".
    Page 8, line 19, after "of the" insert " first".
    Page 8, line 20, delete "owner's" and insert " owner received a".
    Page 8, line 20, delete "exemption" and insert " credit".
    Page 8, line 21, delete "chapter commenced." and insert " chapter.".
    Page 8, line 31, delete "exemption." and insert " credit.".
    Page 8, line 34, delete "exemption" and insert " credit".
    Page 8, line 35, delete "additional".
    Page 8, line 36, delete "would have been" and insert " were".
    Page 8, line 37, delete "unit if the property tax exemption had not" and insert " unit.".
    Page 8, delete line 38.
    Page 9, line 4, delete "exemption" and insert " credit".
    Page 9, line 12, delete "exemption" and insert " credit".
    Page 9, line 36, delete "exemption" and insert " credit".
    Page 9, line 38, delete "additional".
    Page 9, line 38, delete "would" and insert " were".
    Page 9, line 39, delete "have been".
    Page 9, line 39, delete "owner if the" and insert " owner.".
    Page 9, delete line 40.
    Page 10, line 5, delete "exemption" and insert " credit".
    Page 10, line 9, delete "exemption" and insert " credit".
    Page 10, line 11, delete "additional".
    Page 10, line 11, delete "would" and insert " were".
    Page 10, line 12, delete "have been".
    Page 10, line 13, delete "unit if the exemption had not been in effect." and insert " unit.".
    Page 10, line 21, after "payable" insert " in the year immediately following the year in which at least eighty percent (80%) of taxpayers subject as of June 30, 2002, to the property tax on inventory do not pay property tax on inventory assessed under IC 6-1.1-3.".
    Page 10, delete line 22.
    (Reference is to SB 462 as printed January18, 2002.)

and when so amended that said bill do pass.

__________________________________

Representative Bauer


CR046201/DI 103    2002