IN.gov - Skip Navigation

Note: This message is displayed if (1) your browser is not standards-compliant or (2) you have you disabled CSS. Read our Policies for more information.

Indiana General Assembly
  •  
Senate Bill 0462


 

Search all legislative material from the 2002 Session.
General Assembly Home Page

Session Information

Complete Bill Listing

Get Acrobat Reader
You will need to download and install Acrobat Reader to view PDF documents.

  

Senate Bill 0462

ARCHIVE (2002)

Latest Information

 
DIGEST OF SB 462 (Updated March 14, 2002 7:56 PM - DI 103)

Property tax benefits for high impact business. 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 located in Tippecanoe County and Lafayette to be designated as a high impact business. Requires a high impact business to continue operations 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 refund takes effect after December 31, 2003.
    Current Status:
     Law Enacted
    >Latest Printing > (PDF)