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 thischapter.
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 valueof the real and personal property assessed at an enterprise zonelocation on the assessment date in the calendar year immediatelypreceding the calendar year in which a taxpayer makes a qualifiedinvestment 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 developmentcorporation 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 createdunder 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 ofland 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 tangiblepersonal property that is located within an enterprise zone on anassessment 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 anyof the following expenditures relating to an enterprise zone locationon 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, ormodernization of an existing building and relatedimprovements.
(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 fiscalbody or legislative body
Sec. 9. (a) Subject to subsection (c), a taxpayer that makes aqualified investment is entitled to a deduction from the assessedvalue of the taxpayer's enterprise zone property located at theenterprise zone location for which the taxpayer made the qualifiedinvestment. The amount of the deduction is equal to the remainderof:
(1) the total amount of the assessed value of the taxpayer'senterprise zone property assessed at the enterprise zone locationon a particular assessment date; minus
(2) the total amount of the base year assessed value for theenterprise zone location.
(b) To receive the deduction allowed under subsection (a) for aparticular year, a taxpayer must comply with the conditions set forthin this chapter.
(c) A taxpayer that makes a qualified investment in an enterprisezone established under IC 5-28-15-11 that is under the jurisdiction ofa military base reuse authority board created under IC 36-7-14.5 orIC 36-7-30-3 is entitled to a deduction under this section only if thededuction is approved by the legislative body of the unit thatestablished the military base reuse authority board.
(d) Except as provided in subsection (c), a taxpayer that makes aqualified investment at an enterprise zone location that is locatedwithin an allocation area, as defined by IC 6-1.1-21.2-3, is entitled toa deduction under this section only if the deduction is approved bythe:
(1) fiscal body of the unit, in the case of an allocation areaestablished under IC 6-1.1-39;
(2) legislative body of the unit described in IC 8-22-3.5-1, in thecase of an allocation area located in an airport developmentzone;
(3) legislative body of the unit that established the departmentof redevelopment, in the case of an allocation area establishedunder IC 36-7-14; (4) legislative body of the unit that established theredevelopment authority, in the case of an allocation areaestablished under IC 36-7-14.5;
(5) legislative body of the consolidated city or excluded citythat approved the establishment of the allocation area, in thecase of an allocation area established under IC 36-7-15.1; or
(6) legislative body of the unit that established the reuseauthority, in the case of an allocation area established underIC 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 deductionprovided by section 9 of this chapter for a particular year shall file acertified application, on forms prescribed by the department of localgovernment finance, with the auditor of the county where theproperty for which the deduction is claimed was located on theassessment date. The application may be filed in person or by mail.If mailed, the mailing must be postmarked on or before the last dayfor filing. Except as provided in subsections (c) and (d), theapplication must be filed before May 15 of the assessment year toobtain the deduction.
(b) A taxpayer shall include on an application filed under thissection all information that the department of local governmentfinance and the corporation require to determine eligibility for thededuction provided under this chapter.
(c) The county auditor may grant a taxpayer an extension of notmore than thirty (30) days to file the taxpayer's application if:
(1) the taxpayer submits a written application for an extensionbefore May 15 of the assessment year; and
(2) the taxpayer is prevented from filing a timely applicationbecause of sickness, absence from the county, or any other goodand sufficient reason.
(d) An urban enterprise association created under IC 5-28-15-13may by resolution waive failure to file a:
(1) timely; or
(2) complete;
deduction application under this section. Before adopting a waiverunder this section, the urban enterprise association shall conduct apublic 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 ofeach applicant under this chapter and shall notify the applicant of thedetermination before August 15 of the year in which the application
is made.
(b) A person may appeal the determination of the county auditorunder subsection (a) by filing a complaint in the office of the clerkof the circuit or superior court not later than forty-five (45) days afterthe 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 adeduction under this chapter for property other than property locatedin a consolidated city for an assessment date that occurs after theexpiration of the enterprise zone in which the enterprise zoneproperty for which the taxpayer made the qualified investment islocated.
(b) A taxpayer may not claim a deduction under this chapter formore than ten (10) years.
As added by P.L.214-2005, SEC.16. Amended by P.L.211-2007,SEC.7.