Bill Text: IN SB0382 | 2011 | Regular Session | Introduced

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Bill Title: Industrial recovery tax credit.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2011-01-11 - First reading: referred to Committee on Tax and Fiscal Policy [SB0382 Detail]

Download: Indiana-2011-SB0382-Introduced.html

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Introduced Version

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SENATE BILL No. 382

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DIGEST OF INTRODUCED BILL

Citations Affected: IC 6-3.1-11-15.

Synopsis: Industrial recovery tax credit. Provides that a vacant industrial facility must be at least 25,000 square feet instead of at least 250,000 square feet.

Effective: January 1, 2012.

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Charbonneau

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    January 11, 2011, read first time and referred to Committee on Tax and Fiscal Policy.

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Introduced

First Regular Session 117th General Assembly (2011)

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.
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Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 2010 Regular Session of the General Assembly.

SENATE BILL No. 382

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    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; (11)IN0382.1.1. -->     SECTION 1. IC 6-3.1-11-15 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JANUARY 1, 2012]: 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 two hundred fifty thousand (250,000) twenty-five thousand (25,000) 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.

SOURCE: ; (11)IN0382.1.2. -->     SECTION 2. [EFFECTIVE JANUARY 1, 2012] (a) IC 6-3.1-11-15, as amended by this act, applies to applications for the designation of a vacant industrial facility as an industrial recovery site that are filed after December 31, 2011.
    (b) This SECTION expires January 1, 2014.