Indiana § 6-1.1-40-7 Designation as district

Indiana Statutes

§ 6-1.1-40-7 — Designation as district

Indiana § 6-1.1-40-7

Art. 1.1PROPERTY TAXES

Ch. 40Maritime Opportunity Districts

This text of Indiana § 6-1.1-40-7 (Designation as district) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-1.1-40-7 (2026).

Text

(a)The commission may find that a geographic territory is a maritime opportunity district if the commission determines that:

(1)the territory is located adjacent to a state owned port on state owned land;

(2)there will be redevelopment or rehabilitation of property within the territory;

(3)the redevelopment or rehabilitation will require a substantial investment relative to the size of the business making the investment;

(4)the business making an investment will be manufacturing goods;

(5)more than fifty percent (50%) of the goods manufactured are to be shipped through a port operated by the state and are destined for international markets;

(6)the business is making a long term commitment to the territory; and

(7)there will be an increase in the revenue of the port.

(b)To make suc

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(a) The commission may find that a
geographic territory is a maritime opportunity district if the
commission determines that:
(1) the territory is located adjacent to a state owned port on state
owned land;
(2) there will be redevelopment or rehabilitation of property
within the territory;
(3) the redevelopment or rehabilitation will require a substantial
investment relative to the size of the business making the
investment;
(4) the business making an investment will be manufacturing
goods;
(5) more than fifty percent (50%) of the goods manufactured are
to be shipped through a port operated by the state and are destined
for international markets;
(6) the business is making a long term commitment to the
territory; and
(7) there will be an increase in the revenue of the port.
(b) To make such a finding, the commission shall use the
procedures prescribed in section 8 of this chapter.
(c) The commission may adopt a resolution establishing general
standards to be used, along with the requirements set forth in
subsection (a). The standards must have a reasonable relationship to
the development objectives of the district.
(d) If a person requests the designation of a territory as a district, the
commission may charge an application fee sufficient to defray actual
processing and administrative costs. In declaring a territory to be a
district, the commission may limit the time period to a certain number
of calendar years during which the district shall be so designated. To
exercise one (1) or more of these powers, the commission must include
this fact in the resolution passed under section 8 of this chapter.
(e) If the commission limits the time period during which a territory
will be a district, it does not limit the length of time a taxpayer is
entitled to receive a deduction under section 10 of this chapter.