Sec. 5.8. In lieu of providing the statement of benefits required by section 3 or 4.5 of this chapter and the additional information required by section 5.1 or 5.6 of this chapter, the designating body may, by resolution, waive the statement of benefits if the designating body finds that the purposes of this chapter are served by allowing the deduction and the property owner has, during the thirty-six (36) months preceding the first assessment date to which the waiver would apply, installed new manufacturing equipment, new farm equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment or developed or rehabilitated property at a cost of at least ten million dollars ($10,000,000) as determined by the assessor of the township in which the property is located, or by the county assessor if there is no township assessor for the township.
As added by P.L.47-1990, SEC.3. Amended by P.L.14-1991, SEC.7; P.L.4-2000, SEC.10; P.L.90-2002, SEC.123; P.L.256-2003, SEC.6; P.L.64-2004, SEC.10 and P.L.81-2004, SEC.54; P.L.146-2008, SEC.127; P.L.8-2022, SEC.10.
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