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House Bill 2008


House Bill 2008

ARCHIVE (2003)

Latest Information

 

DIGEST OF HB2008 (Updated April 14, 2003 5:35 PM - DI 84)


Economic development matters. Changes the membership of the Indiana economic development council. Requires certain members of the twenty-first century research and technology fund board to have experience in the life sciences. Creates the emerging technology grant fund and program. Specifies the purposes for which the rural development council may spend appropriations and creates an advisory board to make recommendations concerning those expenditures. Authorizes the designation of tax allocation projects in distressed counties. Creates a grant office within the department of commerce to work with federal agencies, state agencies, colleges and universities, and private sector entities to develop and receive research and development grants. Establishes a property tax deduction for manufacturers who purchase depreciable personal property used to manufacture recycled components composed of at least 15% coal combustion waste generated in Indiana. Establishes an income tax credit for manufacturers who manufacture recycled components consisting of at least 15% coal combustion waste generated in Indiana. Provides that a person is not required to register as a retail merchant or to collect or remit the state sales or use tax in Indiana if the sole contact with Indiana is a contract with a call center in Indiana that provides telephone call services to the person. Exempts sales of certain energy efficient appliances from the state gross retail tax for sales occurring after June 30, 2003, and before January 1, 2008. Establishes a property tax deduction for 100% of the assessed value of aircraft owned or operated by certain air carriers or scheduled air taxi operators that have an Indiana corporate headquarters. Provides that those aircraft are subject to the aircraft excise tax. Provides tax credits for the production of biodiesel and the production and retail sale of blended biodiesel. Provides a tax credit for the production of ethanol in Indiana. Requires the public employees' retirement fund (PERF) and the teachers' retirement fund (TRF) to apply for a grant from a private foundation or other entity to develop a fellowship program to assist PERF and TRF in increasing venture capital investment opportunities in Indiana technology and advanced manufacturing companies. Extends the expiration date for the research expense tax credit. Specifies that a pass through entity is eligible for the venture capital investment tax credit for investments made in qualified Indiana businesses. Eliminates certain requirements that a business must meet in order to be certified as a qualified Indiana business. Sets forth procedures for the department of commerce to certify that a taxpayer is entitled to a venture capital investment tax credit. Provides that if a taxpayer carries over any credit amount to the succeeding year, the amount carried over does not count toward the $10,000,000 in maximum allowable credits for the succeeding year. Authorizes the Indiana port commission to construct and finance: (1) maritime and nonmaritime port projects throughout Indiana for the transfer of goods and passengers between all modes of transportation; and (2) nonport projects to promote economic growth and development throughout Indiana. Specifies the powers of the commission with respect to these projects, including the conditions under which the commission may issue bonds. Creates a government efficiency commission. Makes appropriations for various purposes .
Current Status:
 In Conference Committee
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