CHAPTER 45. ENTERPRISE ZONE INVESTMENT DEDUCTION
IC 6-1.1-45
Chapter 45. Enterprise Zone Investment Deduction
IC 6-1.1-45-1
Definition applicability
Sec. 1. The definitions in this chapter apply throughout this
chapter.
As added by P.L.214-2005, SEC.16.
IC 6-1.1-45-2
"Base year assessed value"
Sec. 2. "Base year assessed value" equals the total assessed value
of the real and personal property assessed at an enterprise zone
location on the assessment date in the calendar year immediately
preceding the calendar year in which a taxpayer makes a qualified
investment with respect to the enterprise zone location.
As added by P.L.214-2005, SEC.16.
IC 6-1.1-45-3
"Corporation"
Sec. 3. "Corporation" refers to the Indiana economic development
corporation established under IC 5-28-3-1.
As added by P.L.214-2005, SEC.16.
IC 6-1.1-45-4
"Enterprise zone"
Sec. 4. "Enterprise zone" refers to an enterprise zone created
under IC 5-28-15.
As added by P.L.214-2005, SEC.16.
IC 6-1.1-45-5
"Enterprise zone location"
Sec. 5. "Enterprise zone location" means a lot, parcel, or tract of
land located in an enterprise zone.
As added by P.L.214-2005, SEC.16.
IC 6-1.1-45-6
"Enterprise zone property"
Sec. 6. "Enterprise zone property" refers to real and tangible
personal property that is located within an enterprise zone on an
assessment date.
As added by P.L.214-2005, SEC.16.
IC 6-1.1-45-7
"Qualified investment"
Sec. 7. As used in this chapter, "qualified investment" means any
of the following expenditures relating to an enterprise zone location
on which a taxpayer's zone business is located:
(1) The purchase of a building.
(2) The purchase of new manufacturing or production
equipment.
(3) Costs associated with the repair, rehabilitation, or
modernization of an existing building and related
improvements.
(4) Onsite infrastructure improvements.
(5) The construction of a new building.
(6) Costs associated with retooling existing machinery.
As added by P.L.214-2005, SEC.16.
IC 6-1.1-45-8
"Zone business"
Sec. 8. "Zone business" has the meaning set forth in IC 5-28-15-3.
As added by P.L.214-2005, SEC.16.
IC 6-1.1-45-9
Eligibility for deduction; amount; conditions; approval by fiscal
body or legislative body
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 36-7-14.5 or
IC 36-7-30-3 is entitled to a deduction under this section only if the
deduction is approved by the legislative body of the unit that
established the military base reuse authority board.
(d) Except as provided in subsection (c), a taxpayer that makes a
qualified investment at an enterprise zone location that is located
within an allocation area, as defined by IC 6-1.1-21.2-3, is entitled to
a deduction under this section only if the deduction is approved by
the:
(1) fiscal body of the unit, in the case of an allocation area
established under IC 6-1.1-39;
(2) legislative body of the unit described in IC 8-22-3.5-1, in the
case of an allocation area located in an airport development
zone;
(3) legislative body of the unit that established the department
of redevelopment, in the case of an allocation area established
under IC 36-7-14;
(4) legislative body of the unit that established the
redevelopment authority, in the case of an allocation area
established under IC 36-7-14.5;
(5) legislative body of the consolidated city or excluded city
that approved the establishment of the allocation area, in the
case of an allocation area established under IC 36-7-15.1; or
(6) legislative body of the unit that established the reuse
authority, in the case of an allocation area established under
IC 36-7-30.
As added by P.L.214-2005, SEC.16. Amended by P.L.154-2006,
SEC.60; P.L.211-2007, SEC.5; P.L.146-2008, SEC.304.
IC 6-1.1-45-10
Deduction application; extension
Sec. 10. (a) A taxpayer that desires to claim the deduction
provided by section 9 of this chapter for a particular year shall file a
certified application, on forms prescribed by the department of local
government finance, with the auditor of the county where the
property for which the deduction is claimed was located on the
assessment date. The application may be filed in person or by mail.
If mailed, the mailing must be postmarked on or before the last day
for filing. Except as provided in subsections (c) and (d), the
application must be filed before May 15 of the assessment year to
obtain the deduction.
(b) A taxpayer shall include on an application filed under this
section all information that the department of local government
finance and the corporation require to determine eligibility for the
deduction provided under this chapter.
(c) The county auditor may grant a taxpayer an extension of not
more than thirty (30) days to file the taxpayer's application if:
(1) the taxpayer submits a written application for an extension
before May 15 of the assessment year; and
(2) the taxpayer is prevented from filing a timely application
because of sickness, absence from the county, or any other good
and sufficient reason.
(d) An urban enterprise association created under IC 5-28-15-13
may by resolution waive failure to file a:
(1) timely; or
(2) complete;
deduction application under this section. Before adopting a waiver
under this section, the urban enterprise association shall conduct a
public hearing on the waiver.
As added by P.L.214-2005, SEC.16. Amended by P.L.211-2007,
SEC.6.
IC 6-1.1-45-11
Eligibility; appeals
Sec. 11. (a) The county auditor shall determine the eligibility of
each applicant under this chapter and shall notify the applicant of the
determination before August 15 of the year in which the application
is made.
(b) A person may appeal the determination of the county auditor
under subsection (a) by filing a complaint in the office of the clerk
of the circuit or superior court not later than forty-five (45) days after
the county auditor gives the person notice of the determination.
As added by P.L.214-2005, SEC.16.
IC 6-1.1-45-12
Deduction limitation; claiming deduction after expiration of zone
Sec. 12. (a) Subject to subsection (b), a taxpayer may claim a
deduction under this chapter for property other than property located
in a consolidated city for an assessment date that occurs after the
expiration of the enterprise zone in which the enterprise zone
property for which the taxpayer made the qualified investment is
located.
(b) A taxpayer may not claim a deduction under this chapter for
more than ten (10) years.
As added by P.L.214-2005, SEC.16. Amended by P.L.211-2007,
SEC.7.