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House Bill 1874
ARCHIVE (2003)
Latest Information
| DIGEST OF HB 1874 (Updated March 4, 2003 7:17 PM - DI 84) Affordable housing incentives. Authorizes the designation of residential redevelopment areas in Indianapolis and second class cities. Provides for the acquisition of real property subject to a tax sale for purposes of residential redevelopment. Provides an assessed valuation deduction for the rehabilitation or redevelopment of residential property in a residential redevelopment area. Provides an income tax credit for sales taxes paid on building materials used to construct or rehabilitate residential property in a residential redevelopment area. Provides an income tax credit for the purchase of a newly constructed or rehabilitated property used as a primary residence in a residential redevelopment area. Provides that the income tax credits apply to taxable years beginning after December 31, 2004. |
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