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


MO007802/DI 73
2006