February 13, 2004
ENGROSSED
HOUSE BILL No. 1024
_____
DIGEST OF HB 1024
(Updated February 12, 2004 11:34 am - DI 44)
Citations Affected: IC 6-3.1.
Synopsis: Industrial recovery tax credit. Reduces the minimum size
required for a building to be eligible for the industrial recovery tax
credit from 300,000 to 250,000 square feet.
Effective: July 1, 2004.
December 4, 2003, read first time and referred to Committee on Ways and Means.
January 15, 2004, reported _ Do Pass.
February 4, 2004, read second time, ordered engrossed. Engrossed.
February 5, 2004, read third time, passed. Yeas 95, nays 0.
SENATE ACTION
February 9, 2004, read first time and referred to Committee on Finance.
February 12, 2004, reported favorably _ Do Pass.
February 13, 2004
Second Regular Session 113th General Assembly (2004)
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.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in
this style type. Also, the
word
NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in
this style type or
this style type reconciles conflicts
between statutes enacted by the 2003 Regular Session of the General Assembly.
ENGROSSED
HOUSE BILL No. 1024
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 6-3.1-11-15; (04)EH1024.1.1. -->
SECTION 1. IC 6-3.1-11-15 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2004]: Sec. 15. As used in this
chapter, "vacant industrial facility" means a tract of land on which there
is located a plant that:
(1) has at least
three two hundred
fifty thousand
(300,000)
(250,000) square feet of floor space;
(2) was placed in service at least twenty (20) years ago; and
(3) has been vacant for two (2) or more years, unless the tract and
the plant are owned by a municipality or a county, in which case
the two (2) year requirement does not apply.