Introduced Version






SENATE BILL No. 252

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DIGEST OF INTRODUCED BILL



Citations Affected: IC 6-1.1-45-9.

Synopsis: Enterprise zone investment deduction. Provides that a taxpayer is entitled to an enterprise zone investment deduction in a military installation designated as an enterprise zone only if the deduction is approved by the military base reuse authority board.

Effective: July 1, 2006.





Weatherwax, Merritt




    January 9, 2006, read first time and referred to Committee on Tax and Fiscal Policy.







Introduced

Second Regular Session 114th General Assembly (2006)


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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SENATE BILL No. 252



    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 6-1.1-45-9; (06)IN0252.1.1. -->     SECTION 1. IC 6-1.1-45-9, AS ADDED BY P.L.214-2005, SECTION 16, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2006]: Sec. 9. (a) Subject to subsection (c), a taxpayer that makes a qualified investment is entitled to a deduction from the assessed value of the taxpayer's enterprise zone property located at the enterprise zone location for which the taxpayer made the qualified investment. The amount of the deduction is equal to the remainder of:
        (1) the total amount of the assessed value of the taxpayer's enterprise zone property assessed at the enterprise zone location on a particular assessment date; minus
        (2) the total amount of the base year assessed value for the enterprise zone location.
    (b) To receive the deduction allowed under subsection (a) for a particular year, a taxpayer must comply with the conditions set forth in this chapter.
     (c) A taxpayer that makes a qualified investment in an enterprise zone established under IC 5-28-15-11 that is under the

jurisdiction of a military base reuse authority board created under IC 36-7-30-3 is entitled to a deduction under this section only if the deduction is approved by the military base reuse authority board.

SOURCE: ; (06)IN0252.1.2. -->     SECTION 2. [EFFECTIVE JULY 1, 2006] IC 6-1.1-45-9, as amended by this act, applies only to property taxes first due and payable after December 31, 2006.