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Senate Bill 0273


Senate Bill 0273

ARCHIVE (2001)

Latest Information

 

DIGEST OF SB273 (Updated April 11, 2001 6:46 PM - DI 84)


Brownfield program and environmental remediation. Allows a credit against state tax liability for certain voluntary environmental remediation costs. Provides that the maximum amount of the credit for a particular remediation project is $100,000. Limits the total amount of credits that may be granted in each state fiscal year to $1,000,000. Provides that the credit amount for each year shall be deducted from the environmental remediation revolving loan fund subaccount to replenish the state general fund. Provides that the department of environmental management shall share administrative duties with the Indiana development finance authority. Provides that no new tax credits are allowed for tax years beginning after December 31, 2003. Corrects a reference in the environmental remediation revolving loan program law from "subaccount" to "account".
    Current Status:
     Law Enacted
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