Citations Affected: IC 6-1.1.
Synopsis: Property tax credit for high impact business. Proposed conference committee report
to ESB 462. Establishes a high impact business commission consisting of the Lafayette common
council and the Tippecanoe county council. Allows the commission to designate one business
as a high impact business and to grant a property tax credit for the business's inventory for ten
years. Requires a business to commit to investing at least $50,000,000 and retaining at least
1,400 jobs at its facilities in the city and the county for at least 20 years and to comply with a
statement of benefits to result from its investment. Provides for the termination of the tax credit,
the recapture of tax revenues, and penalties for a failure to comply with the statement of benefits
or for ceasing operations at those facilities. Provides that the inventory tax credit takes effect
after December 31, 2003. (This conference committee report: (1) reduces the retained job
requirement from 1,600 to 1,400 jobs; (2) provides that the inventory tax credit takes effect on
a date certain; and (3) makes certain technical and conforming changes.)
Effective: July 1, 2002.
MR. PRESIDENT:
Your Conference Committee appointed to confer with a like committee from the House
upon Engrossed House Amendments to Engrossed Senate Bill No. 462 respectfully reports
that said two committees have conferred and agreed as follows to wit:
that the Senate recede from its dissent from all House amendments and that
the Senate now concur in all House amendments to the bill and that the bill
be further amended as follows:
____________________________ ____________________________
Senator AltingRepresentative Klinker
Chairperson
____________________________ ____________________________
Senator LananeRepresentative Scholer
Senate Conferees House Conferees