§ 8-22-3.5-15 — State income tax incentives for attracting or retaining airport development projects in a consolidated city

Indiana § 8-22-3.5-15

• Jurisdiction: Indiana
• Art. 22: AIRPORTS
• Ch. 3.5: Airport Development Zones

Text

(a) As used in this section, "state income tax
liability" means a tax liability that is incurred under:
(1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax); or
(2) any other tax imposed by this state and based on or measured
by either gross income or net income.
(b) The attraction or retention of qualified airport development
projects to a consolidated city within Indiana is a governmental
function of general public benefit for all the citizens of Indiana.
(c) As an incentive to attract or retain qualified airport development
projects to Indiana, for a period of thirty-five (35) years, beginning
January 1, 1991, persons that locate and operate a qualified airport
development project in an airport development zone in a consolidated
city shall not incur, notwithstanding any other law, any state income tax
liability as a result of:
(1) activities associated with locating or retaining the qualified
airport development project in the consolidated city;
(2) the construction, modification, alteration, or completion of the
qualified airport development project;
(3) the employment of personnel or the ownership or rental of
property at or in conjunction with the qualified airport
development project; or
(4) the operation of, or the activities at or in connection with, the
qualified airport development project.
(d) The department of state revenue shall adopt rules under IC 4-22-2 to implement this section.

Legislative History

As added by P.L.41-1994, SEC.2. Amended by P.L.192-2002(ss), SEC.149; P.L.224-2003, SEC.268.