CHAPTER 12.7. DEDUCTION FOR PERSONAL PROPERTY WITHIN A CERTIFIED TECHNOLOGY PARK
IC 6-1.1-12.7
Chapter 12.7. Deduction for Personal Property Within a Certified
Technology Park
IC 6-1.1-12.7-1
"Certified technology park"
Sec. 1. As used in this chapter, "certified technology park" refers
to a certified technology park that is:
(1) established under IC 36-7-32; and
(2) certified as of the assessment date for which the deduction
under this chapter is claimed.
As added by P.L.113-2010, SEC.28.
IC 6-1.1-12.7-2
"High technology activity"
Sec. 2. As used in this chapter, "high technology activity" has the
meaning set forth in IC 36-7-32-7.
As added by P.L.113-2010, SEC.28.
IC 6-1.1-12.7-3
"Qualified personal property"
Sec. 3. As used in this chapter, "qualified personal property"
means personal property that is:
(1) assessed for the first time after December 31, 2010;
(2) located within a certified technology park;
(3) primarily used to conduct high technology activity; and
(4) not part of the assessed value for which a personal property
tax allocation has been made for the payment of the principal of
and interest on bonds or lease rentals under IC 5-28-26,
IC 6-1.1-39, IC 8-22-3.5, IC 36-7-14, IC 36-7-14.5,
IC 36-7-15.1, IC 36-7-30, IC 36-7-30.5, or IC 36-7-32.
The term does not include personal property that is used primarily
for routine administrative purposes such as office communications,
accounting, record keeping, and human resources.
As added by P.L.113-2010, SEC.28.
IC 6-1.1-12.7-4
Ordinance authorizing deduction
Sec. 4. (a) A county fiscal body may adopt an ordinance providing
that a deduction applies to the assessed value of qualified personal
property located in the county. The deduction is equal to one hundred
percent (100%) of the assessed value of qualified personal property
located in the county for each calendar year specified in the
ordinance. An ordinance adopted under this section must be adopted
before January 1 of the first assessment year for which a taxpayer
may claim a deduction under the ordinance.
(b) An ordinance adopted under subsection (a) must specify the
number of assessment years that a deduction is allowed under this
chapter. However, a deduction may not be allowed for:
(1) less than two (2) assessment years; or
(2) more than ten (10) assessment years.
(c) The fiscal body shall send a certified copy of the ordinance
adopted under subsection (a) to the county assessor, the county
auditor, and the Indiana economic development corporation. Subject
to this chapter, the fiscal body's determination of the number of years
the deduction is allowed is final and may not be changed.
(d) An ordinance adopted under subsection (a) may not allow a
deduction for qualified personal property installed after March 1,
2015.
As added by P.L.113-2010, SEC.28.
IC 6-1.1-12.7-5
Review; Indiana economic development corporation
Sec. 5. The Indiana economic development corporation shall
review an ordinance adopted under this chapter and determine
whether it is in the best interest of the development of the certified
technology park to permit the deduction. The Indiana economic
development corporation, after conducting a hearing, may approve
the ordinance, approve the ordinance with modifications, or
disapprove the ordinance. An owner of qualified personal property
is eligible for a deduction under this chapter only to the extent
permitted under an ordinance (as modified by the Indiana economic
development corporation) that is approved under this section.
As added by P.L.113-2010, SEC.28.
IC 6-1.1-12.7-6
Certified deduction schedule; review by county assessor; appeal
Sec. 6. (a) To obtain the deduction under this chapter, an owner
of qualified personal property must file a certified deduction
schedule with the county assessor in which the qualified personal
property is located. The department of local government finance
shall prescribe the form of the schedule. A schedule must be filed for
each year the deduction is being claimed.
(b) The schedule must be filed with:
(1) a timely personal property return under IC 6-1.1-3-7(a) or
IC 6-1.1-3-7(b); or
(2) a timely amended personal property return under
IC 6-1.1-3-7.5.
The county assessor shall forward to the county auditor a copy of
each schedule filed.
(c) The schedule must contain at least the following information:
(1) The name of the owner of the qualified personal property.
(2) A description of the qualified personal property and the
address of the real estate on which it is located.
(3) Documentation that the qualified personal property is
located within a certified technology park.
(4) Documentation that the qualified personal property is
primarily used to conduct high technology activity.
(d) The deduction applies to the qualified personal property
claimed in a schedule. However, the county assessor may:
(1) review the schedule; and
(2) before the March 1 that next succeeds the assessment date
for which the deduction is claimed, deny or alter the amount of
the deduction.
If the county assessor does not deny the deduction, the county
auditor shall apply the deduction in the amount claimed in the
schedule or in the amount as altered by the county assessor. A county
assessor who denies a deduction under this subsection or alters the
amount of the deduction shall notify the person that claimed the
deduction and the county auditor of the assessor's determination.
(e) A person may appeal a determination by the county assessor
to deny or alter the amount of the deduction by requesting in writing,
not more than forty-five (45) days after the county assessor gives the
person notice of the determination, a meeting with the county
assessor. An appeal initiated under this subsection must be processed
and determined in the same manner that an appeal is processed and
determined under IC 6-1.1-15. However, the county assessor may not
participate in any action the county property tax assessment board of
appeals takes with respect to an appeal of a determination by the
county assessor.
As added by P.L.113-2010, SEC.28.