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House Bill 1669


House Bill 1669

ARCHIVE (2005)

Latest Information

 

DIGEST OF HB1669 (Updated February 28, 2005 8:08 pm - DI 84)


Enterprise zone incentives. Establishes the enterprise zone investment deduction, which allows a taxpayer who makes a qualified investment to obtain a deduction against the assessed value of a taxpayer's enterprise zone property located in an enterprise zone. Establishes the enterprise zone personal property deduction, that provides a deduction against the assessed value of the taxpayer's personal property located in an enterprise zone to a maximum of $250,000. Allows a taxpayer to assign the enterprise zone investment cost credit. Provides that trusts, estates, corporations, and pass through entities that make qualified investments in enterprise zone businesses may claim the enterprise zone investment cost credit. (Current law allows only individuals to claim the credit, except in Vigo County where pass through entities are also eligible.)
Current Status:
 Passed 2nd reading - first House
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