Introduced Version
HOUSE BILL No. 1050
_____
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.
January 4, 2006, read first time and referred to Committee on Ways and Means.
Introduced
Second Regular Session 114th General Assembly (2006)
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HOUSE BILL No. 1050
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)IN1050.1.1. -->
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.