For purposes of this chapter:
(1)"Economic revitalization area" means an area which is within
the corporate limits of a city, town, or county which has become
undesirable for, or impossible of, normal development and
occupancy because of a lack of development, cessation of growth,
deterioration of improvements or character of occupancy, age,
obsolescence, substandard buildings, or other factors which have
impaired values or prevent a normal development of property or
use of property. The term "economic revitalization area" also
includes:
(A)any area where a facility or a group of facilities that are
technologically, economically, or energy obsolete are located
and where the obsolescence may lead to a decline in
employment and tax revenues;
(B)a residentially distressed area, except as o
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For purposes of this chapter:
(1) "Economic revitalization area" means an area which is within
the corporate limits of a city, town, or county which has become
undesirable for, or impossible of, normal development and
occupancy because of a lack of development, cessation of growth,
deterioration of improvements or character of occupancy, age,
obsolescence, substandard buildings, or other factors which have
impaired values or prevent a normal development of property or
use of property. The term "economic revitalization area" also
includes:
(A) any area where a facility or a group of facilities that are
technologically, economically, or energy obsolete are located
and where the obsolescence may lead to a decline in
employment and tax revenues;
(B) a residentially distressed area, except as otherwise provided
in this chapter; and
(C) an area of land classified as agricultural land for property
tax purposes that, as a condition of being designated an
economic revitalization area, will be predominately used for
agricultural purposes for a period specified by the designating
body.
(2) "City" means any city in this state, and "town" means any town
incorporated under IC 36-5-1.
(3) "New manufacturing equipment" means tangible personal
property that a deduction applicant:
(A) installs on or before the approval deadline determined
under section 9 of this chapter, in an area that is declared an
economic revitalization area in which a deduction for tangible
personal property is allowed;
(B) uses in the direct production, manufacture, fabrication,
assembly, extraction, mining, processing, refining, or finishing
of other tangible personal property, including but not limited to
use to dispose of solid waste or hazardous waste by converting
the solid waste or hazardous waste into energy or other useful
products;
(C) acquires for use as described in clause (B):
(i) in an arms length transaction from an entity that is not an
affiliate of the deduction applicant, if the tangible personal
property has been previously used in Indiana before the
installation described in clause (A); or
(ii) in any manner, if the tangible personal property has never
been previously used in Indiana before the installation
described in clause (A); and
(D) has never used for any purpose in Indiana before the
installation described in clause (A).
(4) "Property" means a building or structure, but does not include
land.
(5) "Redevelopment" means the construction of new structures,
in economic revitalization areas, either:
(A) on unimproved real estate; or
(B) on real estate upon which a prior existing structure is
demolished to allow for a new construction.
(6) "Rehabilitation" means the remodeling, repair, or betterment
of property in any manner or any enlargement or extension of
property.
(7) "Designating body" means the following:
(A) For a county that does not contain a consolidated city, the
fiscal body of the county, city, or town.
(B) For a county containing a consolidated city, the
metropolitan development commission. The jurisdiction of the
designating body includes a rehabilitation or redevelopment
project under this chapter that falls within the boundaries of an
excluded city, as defined in IC 36-3-1-7.
(8) "Deduction application" means:
(A) the application filed in accordance with section 5 of this
chapter by a property owner who desires to obtain the deduction
provided by section 3 of this chapter;
(B) the application filed in accordance with section 5.4 of this
chapter by a person who desires to obtain the deduction
provided by section 4.5 of this chapter; or
(C) the application filed in accordance with section 5.3 of this
chapter by a property owner that desires to obtain the deduction
provided by section 4.8 of this chapter.
(9) "Designation application" means an application that is filed
with a designating body to assist that body in making a
determination about whether a particular area should be
designated as an economic revitalization area.
(10) "Hazardous waste" has the meaning set forth in IC 13-11-2-99(a). The term includes waste determined to be a
hazardous waste under IC 13-22-2-3(b).
(11) "Solid waste" has the meaning set forth in IC 13-11-2-205(a).
However, the term does not include dead animals or any animal
solid or semisolid wastes.
(12) "New research and development equipment" means tangible
personal property that:
(A) a deduction applicant installs on or before the approval
deadline determined under section 9 of this chapter, in an
economic revitalization area in which a deduction for tangible
personal property is allowed;
(B) consists of:
(i) laboratory equipment;
(ii) research and development equipment;
(iii) computers and computer software;
(iv) telecommunications equipment; or
(v) testing equipment;
(C) the deduction applicant uses in research and development
activities devoted directly and exclusively to experimental or
laboratory research and development for new products, new
uses of existing products, or improving or testing existing
products;
(D) the deduction applicant acquires for purposes described in
this subdivision:
(i) in an arms length transaction from an entity that is not an
affiliate of the deduction applicant, if the tangible personal
property has been previously used in Indiana before the
installation described in clause (A); or
(ii) in any manner, if the tangible personal property has never
been previously used in Indiana before the installation
described in clause (A); and
(E) the deduction applicant has never used for any purpose in
Indiana before the installation described in clause (A).
The term does not include equipment installed in facilities used
for or in connection with efficiency surveys, management studies,
consumer surveys, economic surveys, advertising or promotion,
or research in connection with literacy, history, or similar
projects.
(13) "New logistical distribution equipment" means tangible
personal property that:
(A) a deduction applicant installs on or before the approval
deadline determined under section 9 of this chapter, in an
economic revitalization area in which a deduction for tangible
personal property is allowed;
(B) consists of:
(i) racking equipment;
(ii) scanning or coding equipment;
(iii) separators;
(iv) conveyors;
(v) fork lifts or lifting equipment (including "walk behinds");
(vi) transitional moving equipment;
(vii) packaging equipment;
(viii) sorting and picking equipment; or
(ix) software for technology used in logistical distribution;
(C) the deduction applicant acquires for the storage or
distribution of goods, services, or information:
(i) in an arms length transaction from an entity that is not an
affiliate of the deduction applicant, if the tangible personal
property has been previously used in Indiana before the
installation described in clause (A); and
(ii) in any manner, if the tangible personal property has never
been previously used in Indiana before the installation
described in clause (A); and
(D) the deduction applicant has never used for any purpose in
Indiana before the installation described in clause (A).
(14) "New farm equipment" means tangible personal property
that:
(A) a deduction applicant installs after June 30, 2022, and on or
before the approval deadline determined under section 9 of this
chapter, in an area that will be predominately used for
agricultural purposes for a period specified by the designating
body as a condition of being declared an economic
revitalization area;
(B) is used in the direct production, extraction, harvesting, or
processing of agricultural commodities for sale on land
classified as agricultural land for property tax purposes;
(C) was acquired for use as described in clause (B) in an arms
length transaction from an entity that is not an affiliate of the
deduction applicant; and
(D) the deduction applicant never used for any purpose in
Indiana before the installation described in clause (A).
(15) "New agricultural improvement" means any improvement
made to land classified as agricultural land for tax purposes that
is placed in service after December 31, 2022, and that will be
predominately used for agricultural purposes for a period
specified by the designating body as a condition of being declared
an economic revitalization area. The term includes a barn, grain
bin, or silo.
(16) "New information technology equipment" means tangible
personal property that:
(A) a deduction applicant installs on or before the approval
deadline determined under section 9 of this chapter, in an
economic revitalization area in which a deduction for tangible
personal property is allowed;
(B) consists of equipment, including software, used in the fields
of:
(i) information processing;
(ii) office automation;
(iii) telecommunication facilities and networks;
(iv) informatics;
(v) network administration;
(vi) software development; and
(vii) fiber optics;
(C) the deduction applicant acquires in an arms length
transaction from an entity that is not an affiliate of the
deduction applicant; and
(D) the deduction applicant never used for any purpose in
Indiana before the installation described in clause (A).
(17) "Deduction applicant" means an owner of tangible personal
property who makes a deduction application.
(18) "Affiliate" means an entity that effectively controls or is
controlled by a deduction applicant or is associated with a
deduction applicant under common ownership or control, whether
by shareholdings or other means.
(19) "Eligible vacant building" means a building that:
(A) is zoned for commercial or industrial purposes; and
(B) is unoccupied for at least one (1) year before the owner of
the building or a tenant of the owner occupies the building, as
evidenced by a valid certificate of occupancy, paid utility
receipts, executed lease agreements, or any other evidence of
occupation that the department of local government finance
requires.
As added by Acts 1977, P.L.69, SEC.1. Amended by Acts 1979,
P.L.56, SEC.5; Acts 1980, P.L.42, SEC.1; Acts 1981, P.L.72, SEC.1;
P.L.71-1983, SEC.1; P.L.56-1988, SEC.1; P.L.47-1990, SEC.2;
P.L.42-1992, SEC.1; P.L.18-1992, SEC.21; P.L.25-1995, SEC.17;
P.L.1-1996, SEC.39; P.L.4-2000, SEC.1; P.L.64-2004, SEC.4 and
P.L.81-2004, SEC.48; P.L.216-2005, SEC.1; P.L.154-2006, SEC.24;
P.L.219-2007, SEC.28; P.L.224-2007, SEC.4; P.L.288-2013, SEC.4;
P.L.8-2022, SEC.2; P.L.174-2022, SEC.26; P.L.178-2022(ts),
SEC.5.