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House Bill 1279

House Bill 1279

ARCHIVE (2005)

Latest Information

DIGEST OF HB1279 (Updated February 28, 2005 11:59 pm - DI 84)

Various environmental matters. Establishes a procedure for an owner of a brownfield to petition the department of local government finance to waive or reduce the outstanding charges against the brownfield listed on the tax duplicate. Requires a county or municipal fiscal body to review the petition and either deny the petition or make a recommendation to the department. Extends the voluntary remediation tax credit by two years. Expands the tax liability to which the credit applies. Requires the taxpayer, to receive the credit, to submit information to the Indiana development finance authority (IDFA) instead of the local legislative body. Requires IDFA to certify eligibility for the credit. Increases the maximum credit amount and changes the method of computation of the amount. Increases the total amount of credits allowed statewide to $2,000,000. Provides that, for purposes of the law concerning underground storage tanks and petroleum releases: (1) a person is considered an owner or operator; and (2) a governmental entity is not an owner or an operator; of an underground storage tank or a petroleum facility if the person conveyed ownership or control of the tank or facility to the governmental entity because of circumstances in which the governmental entity involuntarily acquired ownership or control. Requires all of the $90 underground petroleum storage tank registration fee to be deposited in the excess liability trust fund. Provides that a governmental entity is not liable for costs or damages associated with the presence of a hazardous substance on a property in which the political subdivision acquired an interest because of circumstances in which the governmental entity involuntarily acquired an interest in the property unless the governmental entity causes or contributes to the release or threatened release of the hazardous substance. Provides that a governmental entity is not liable if a loss results from an act taken to investigate or remediate hazardous substances, petroleum, or other pollutants associated with a brownfield.
Current Status:
Passed 2nd reading - first House
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