Indiana Code - Taxation - Title 6, Section 6-1.1-12.1-9

Statement of benefits; approval deadline

Sec. 9. Notwithstanding any other provision of this chapter, a
designating body may not approve a statement of benefits for a
deduction under section 3 or 4.5 of this chapter after the approval
deadline, which is determined in the following manner:
(1) The initial approval deadline is December 31, 2011.

(2) Subject to subdivision (3), the initial approval deadline and
subsequent approval deadlines are automatically extended in
increments of five (5) years, so that approval deadlines
subsequent to the initial approval deadline fall on December 31,
2016, and December 31 of each fifth year thereafter.
(3) At least one (1) year before the date of an approval deadline
determined under subdivision (2), the general assembly may
enact a law that:
(A) terminates the automatic extension of approval deadlines
under subdivision (2); and
(B) specifically designates a particular date as the final
approval deadline.

As added by P.L.18-1992, SEC.22. Amended by P.L.25-1995,
SEC.24; P.L.216-2005, SEC.4.

Last modified: May 28, 2006