SOURCE: Page 21, line 29; (04)MO028602.21. -->
Page 21, between lines 29 and 30, begin a new paragraph and insert:
SOURCE: IC 6-3-2-20; (04)MO028602.15. -->
"SECTION 15. IC 6-3-2-20 IS ADDED TO THE INDIANA CODE
AS A
NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2004]:
Sec. 20. (a) As used in this section:
(1) "steel framing" refers to steel framing manufactured in
the United States; and
(2) "qualifying residence" means a single family or two (2)
family residence constructed wholly or partially with steel
framing.
(b) For taxable years beginning after December 31, 2004, a
resident individual taxpayer is entitled to a deduction from the
taxpayer's adjusted gross income for a particular taxable year if,
during that taxable year, the taxpayer acquires title to a qualifying
residence that the taxpayer purchases from the builder of the
qualifying residence.
(c) The amount of the deduction under subsection (b) in a
particular taxable year is the lesser of:
(1) the part of the purchase price of the qualifying residence
attributable to the cost of materials for the steel framing; or
(2) one thousand dollars ($1,000).
(d) To obtain the deduction provided by this section, the
taxpayer must file with the department:
(1) proof of the cost of materials for the steel framing; and
(2) a list of the persons or businesses that supplied materials
for the steel framing.".
Renumber all SECTIONS consecutively.
(Reference is to ESB 286 as printed February 20, 2004.)
________________________________________
MO028602/DI 92 2004