House Bill 1140
ARCHIVE (2006)
Latest Information
| | DIGEST OF HB1140 (Updated February 1, 2006 7:06 pm - DI 84)
Abatements for used Indiana equipment. Provides that certain equipment installed in an economic revitalization area or a maritime opportunity district after being used in Indiana by a person other than the tax abatement applicant is eligible for tax abatement. Specifies when a lot or tract held for sale in the ordinary course of trade or business may be reassessed for property tax purposes. Allows a county council to authorize installment payments of property taxes (without approval of the county treasurer or county auditor). Reduces the penalty for a late installment of property taxes from 10% to 5%, if (1) the late installment is completely paid on or before the date 30 days after the installment due date; and (2) the taxpayer is not also liable for delinquent property taxes first due and payable in a previous year for the same parcel. Provides that a company that meets certain criteria may file refund claims for property tax deductions for new manufacturing equipment placed in service in an economic revitalization area in 2001. Provides a property tax exemption with respect to property taxes first due and payable in 2001, 2002, 2003, and 2004 for college fraternity that did not timely comply with filing requirements. Permits a nonprofit corporation that operates a youth soccer program to claim a refund for property taxes first due and payable in 2003 and 2004. Provides that the department of local government finance may not establish by rule a minimum valuation method for agricultural personal property more than thirteen years old, and directs the department to adopt rules to value such property at the property's fair market value. |
Current Status:
>Latest Printing > (PDF)
House Amendments
- Filed: >1140-1, >1140-1(PDF), >1140-2, >1140-2(PDF), >1140-3, >1140-3(PDF), >1140-4, >1140-4(PDF), >1140-5, >1140-5(PDF)
- Passed: >1140-2, >1140-2(PDF), >1140-3, >1140-3(PDF)
>House Bill> (PDF)
Senate Committee Reports
Senate Amendments
Conference Committee Reports
|
