§ 6-1.1-40-9 — Manufacturing equipment; statement of benefits; review; findings

Indiana § 6-1.1-40-9

• Jurisdiction: Indiana
• Art. 1.1: PROPERTY TAXES
• Ch. 40: Maritime Opportunity Districts

Text

(a) Before a person acquires new
manufacturing equipment for which the person wishes to claim a
deduction under this chapter, the person must submit to the
commission a statement of benefits, in a form prescribed by the
department of local government finance. The statement of benefits
must include the following information:
(1) A description of the new manufacturing equipment that the
person proposes to acquire.
(2) An estimate of the number of individuals who will be
employed or whose employment will be retained by the person as
a result of the installation of the new manufacturing equipment
and an estimate of the annual salaries of these individuals.
(3) An estimate of the cost of the new manufacturing equipment.
(b) The statement of benefits may contain any other information
required by the commission. If the person is requesting or will be
requesting the designation of a district, the statement of benefits must
be submitted at the same time as the request for designation is
submitted.
(c) The commission shall review the statement of benefits if
required under subsection (b) and subject to subsection (d). The
commission shall make findings determining whether the estimate of:
(1) the number of individuals who will be employed or whose
employment will be retained;
(2) the annual salaries of those individuals;
(3) the value of the new manufacturing equipment; and
(4) any other benefits about which the commission requires
information;
are benefits that can be reasonably expected to result from the
installation of the new manufacturing equipment.
(d) The commission shall not review a statement of benefits for new
manufacturing equipment installed in a district after June 30, 2018.

Legislative History

As added by P.L.62-1988, SEC.1. Amended by P.L.90-2002, SEC.273; P.L.146-2008, SEC.299; P.L.212-2018(ss), SEC.15.