§ 6-1.1-10-54 — "Designating body"

Indiana § 6-1.1-10-54

• Jurisdiction: Indiana
• Art. 1.1: PROPERTY TAXES
• Ch. 10: Exemptions

Text

Effective 1-1-2026.
Revisor's Note: The effective date of IC 6-1.1-10-54 was changed
to 1-1-2026 by P.L.213-2025, SEC.337.
Sec. 54. (a) As used in this section, "designating
body" means the fiscal body of:
(1) a county that does not contain a consolidated city; or
(2) a municipality.
(b) As used in this section, "eligible business" means an entity that
meets the following requirements:
(1) The entity is engaged in a business that:
(A) operates; or
(B) leases qualified property for use in;
one (1) or more facilities.
(2) The entity's qualified property is located at a facility in
Indiana.
(3) The entity, the lessor of qualified property (if the entity is a
lessee), and all lessees of qualified property invest in the
aggregate at least one hundred million dollars ($100,000,000) in
real and personal property at one (1) or more facilities in Indiana
after January 1, 2026.
(4) The average wage of employees who are located in the county
or municipality and engaged in the operation of the facility is at
least one hundred twenty-five percent (125%) of the county
average wage for the county in which the facility operates.
(c) As used in this section, "facility" has the meaning set forth in IC 6-2.5-15-5.
(d) As used in this section, "fiscal body" has the meaning set forth
in IC 36-1-2-6.
(e) As used in this section, "municipality" has the meaning set forth
in IC 36-1-2-11.
(f) As used in this section, "qualified property" means quantum safe
fiber network equipment purchased after January 1, 2026, and any
additions to or replacements to such property.
(g) As used in this section, "quantum safe fiber network equipment"
has the meaning set forth in IC 6-2.5-15-13.3.
(h) A designating body may enter into an agreement with an eligible
business to grant the eligible business a property tax exemption. In the
case of a county, the exemption applies only to qualified property that
is located in unincorporated territory of the county. In the case of a
municipality, the exemption applies only to qualified property that is
located in the municipality. The property tax exemption applies to the
qualified property only if the designating body and the eligible business
enter into an agreement concerning the property tax exemption. The
agreement must specify the duration of the property tax exemption. The
agreement may specify that if the ownership of qualified property is
transferred by an eligible business, the transferee is entitled to the
property tax exemption on the same terms as the transferor. If a
designating body enters into an agreement with an eligible business,
the qualified property owned by the eligible business is exempt from
property taxation as provided in the resolution and the agreement.
(i) If a designating body enters into an agreement under subsection
(h) to provide a property tax exemption, the property tax exemption
continues for the period specified in the agreement.

Legislative History

As added by P.L.178-2025, SEC.1. Amended by P.L.213-2025, SEC.70.