SB 78-1_ Filed 01/23/2006, 09:29 Weatherwax
Adopted 1/23/2006
SENATE MOTION
MADAM PRESIDENT:
I move
that Senate Bill 78 be amended to read as follows:
Replace the effective dates in SECTIONS 1 through 2 with
"[EFFECTIVE UPON PASSAGE]".
SOURCE: Page 1, line 1; (06)MO007802.1. -->
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
SOURCE: IC 6-1.1-1-11; (06)MO007802.1. -->
"SECTION 1. IC 6-1.1-1-11, AS AMENDED BY P.L.214-2005,
SECTION 10, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE UPON PASSAGE]: Sec. 11. (a) Subject to the limitation
contained in subsection (b), "personal property" means:
(1) nursery stock that has been severed from the ground;
(2) florists' stock of growing crops which are ready for sale as pot
plants on benches;
(3) billboards and other advertising devices which are located on
real property that is not owned by the owner of the devices;
(4) motor vehicles, mobile houses, airplanes, boats not subject to
the boat excise tax under IC 6-6-11, and trailers not subject to the
trailer tax under IC 6-6-5;
(5) foundations (other than foundations which support a building
or structure) on which machinery or equipment is installed;
(6) fences that are:
(A) installed or placed in service after March 15, 2006; and
(B) used for the purpose of providing security for a
fertilizer or pesticide by:
(i) restricting access to or control of; or
(ii) conducting surveillance on or detecting unauthorized
access to;
the fertilizer or pesticide; and
(6) (7) all other tangible property (other than real property) which
is being:
(A) held for sale in the ordinary course of a trade or business;
(B) held, used, or consumed in connection with the production
of income; or
(C) held as an investment.
(b) Personal property does not include the following:
(1) Commercially planted and growing crops while they are in the
ground.
(2) Computer application software that is not held as inventory (as
defined in IC 6-1.1-3-11).".
SOURCE: Page 2, line 1; (06)MO007802.2. -->
Page 2, line 1, after "of" insert " any tangible personal property
that is:
(1) installed or placed in service after March 15, 2006; and
(2) used for the purpose of providing security for a fertilizer
or pesticide by:
(A) restricting access to or control of; or
(B) conducting surveillance on or detecting unauthorized
access to;
the fertilizer or pesticide.".
Page 2, delete lines 2 through 7.
Page 2, delete lines 15 through 20, begin a new paragraph and insert:
" (d) The total annual amount of the deduction that a person may
receive under:
(1) subsection (b) for tangible personal property installed or
placed in service; and
(2) subsection (c) for the assessed value of a chemical added to
and designed to deter the theft of a fertilizer or pesticide;
at a facility may not exceed fifty thousand dollars ($50,000).".
Page 2, line 24, delete "With respect".
Page 2, delete line 25.
Page 2, line 26, delete "of the assessment year. With respect to
personal property, the" and insert " In addition to the certified
statement, the person must file a certification by the state chemist
that the property for which the deduction is claimed has been
installed or placed in service. The".
Page 2, line 27, after "statement" insert " and certification".
Page 2, between lines 35 and 36, begin a new paragraph and insert:
" (f) A person that qualifies for a deduction for a year under this
section and under IC 6-1.1-12.4 with respect to the same property
may not receive a deduction under both this section and
IC 6-1.1-12.4 for the property.".
Page 2, line 38, delete "2007." and insert " 2006.".
Page 2, after line 38, begin a new paragraph and insert:
SOURCE: ; (06)MO007802.4. -->
"SECTION 4.
An emergency is declared for this act.".
Renumber all SECTIONS consecutively.
(Reference is to SB 78 as printed January 20, 2006.)
________________________________________
Senator WEATHERWAX