Indiana § 6-1.1-42-22 Approval of deduction

Indiana Statutes

§ 6-1.1-42-22 — Approval of deduction

Indiana § 6-1.1-42-22

Art. 1.1PROPERTY TAXES

Ch. 42Brownfield Revitalization Zone Tax Abatement

This text of Indiana § 6-1.1-42-22 (Approval of deduction) 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 § 6-1.1-42-22 (2026).

Text

(a)The designating body shall determine whether to approve a deduction.

(b)A designating body may not grant a deduction for a facility described in IC 6-1.1-12.1-3(e).

(c)A property owner may not receive a deduction under this chapter for repairs or improvements to real property if the owner receives a deduction under either IC 6-1.1-12.1, IC 6-1.1-12-18 (before its expiration), IC 6-1.1-12-22 (before its expiration), or IC 6-1.1-12-28.5 (before its expiration) for the same property.

(d)A designating body may approve a deduction only if the following findings are made in the affirmative:

(1)The applicant:

(A)has never had an ownership interest in an entity that contributed; and

(B)has not contributed; a contaminant (as defined in IC 13-11-2-42) that is the subject of the voluntary r

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(a) The designating body shall determine
whether to approve a deduction.
(b) A designating body may not grant a deduction for a facility
described in IC 6-1.1-12.1-3(e).
(c) A property owner may not receive a deduction under this chapter
for repairs or improvements to real property if the owner receives a
deduction under either IC 6-1.1-12.1, IC 6-1.1-12-18 (before its
expiration), IC 6-1.1-12-22 (before its expiration), or IC 6-1.1-12-28.5
(before its expiration) for the same property.
(d) A designating body may approve a deduction only if the
following findings are made in the affirmative:
(1) The applicant:
(A) has never had an ownership interest in an entity that
contributed; and
(B) has not contributed;
a contaminant (as defined in IC 13-11-2-42) that is the subject of
the voluntary remediation, as determined under the written
standards adopted by the department of environmental
management.
(2) The proposed improvement or property will be located in a
zone.
(3) The estimate of the value of the remediation and
redevelopment is reasonable for projects of that nature.
(4) The estimate of the number of individuals who will be
employed or whose employment will be retained can be
reasonably expected to result from the proposed described
remediation and redevelopment.
(5) The estimate of the annual salaries of those individuals who
will be employed or whose employment will be retained can be
reasonably expected to result from the proposed described
remediation and redevelopment.
(6) Any other benefits about which information was requested are
benefits that can be reasonably expected to result from the
proposed described remediation and redevelopment.
(7) The totality of benefits is sufficient to justify the deduction.