Sec. 4.6. (a) A designating body may adopt a resolution to authorize a property owner to relocate new manufacturing equipment for which a deduction is being granted under this chapter. The resolution may provide that the new manufacturing equipment may only be relocated to:
(1) a new location within the same economic revitalization area; or
(2) a new location within a different economic revitalization area if the area is within the jurisdiction of the designating body.
(b) Before adopting a resolution under this section, the designating body shall conduct a public hearing on the proposed resolution. Notice of the public hearing shall be published in accordance with IC 5-3-1. In addition, the designating body shall notify each taxing unit within the original and the new economic revitalization area of the proposed resolution, including the date and time of the public hearing. If a resolution is adopted under this section, the designating body shall deliver a copy of the adopted resolution to the county auditor within thirty (30) days after its adoption.
(c) New manufacturing equipment relocated under this section remains eligible for the assessed value deduction under this chapter. The same deduction percentage is to be applied as if the new manufacturing equipment had not been relocated.
As added by P.L.126-2000, SEC.6. Amended by P.L.90-2002, SEC.121; P.L.256-2003, SEC.4.
Structure Indiana Code
6-1.1-12.1-0.3. Legalization of Designation of Economic Revitalization Area Before February 1, 1991
6-1.1-12.1-4. Annual Deduction; Amount; Percentage; Period of Deduction; Effect of Reassessment
6-1.1-12.1-4.1. Application of Sections; Residentially Distressed Areas; Deduction Allowed
6-1.1-12.1-4.6. Relocation of New Manufacturing Equipment
6-1.1-12.1-4.7. Deduction for New Manufacturing Equipment; Exemptions
6-1.1-12.1-5.1. Application; Compliance With Statement of Benefits
6-1.1-12.1-5.6. Compliance With Statement of Benefits; Confidentiality of Information
6-1.1-12.1-5.8. Waiver of Statement of Benefits
6-1.1-12.1-6. Multiple Deductions Barred
6-1.1-12.1-7. Economic Development Target Area; Designation
6-1.1-12.1-8. Publishing and Filing Deduction Information
6-1.1-12.1-9. Deadline for Approval of Statement of Benefits; Extension
6-1.1-12.1-9.5. Waiver of Noncompliance
6-1.1-12.1-10. Retroactive Approval of Statement of Benefits; Applicability
6-1.1-12.1-11.3. Waiver of Noncompliance
6-1.1-12.1-13. Department of Local Government Finance Rules
6-1.1-12.1-15. Correction of Deduction Errors