Hearing requirements; termination of deduction
Effective 1-1-2006.
Sec. 8. On the date specified in the notice described in section 6(3)
of this chapter, the official shall conduct a hearing for the purpose of
further considering the property owner's creation or retention of
employment as described in section 6(1) of this chapter. Based on the
information presented at the hearing by the property owner and other
interested parties, the official shall determine whether the property
owner has made reasonable efforts to create or retain employment as
described in section 6(1) of this chapter and whether any failure to
create or retain employment was caused by factors beyond the
control of the property owner. If the official determines that the
property owner has not made reasonable efforts to create or retain
employment, the official shall determine that the property owner's
deduction under this chapter is terminated. If the official terminates
the deduction, the deduction does not apply to:
(1) the next installment of property taxes owed by the property
owner; or
(2) any subsequent installment of property taxes.
As added by P.L.193-2005, SEC.8.
Last modified: May 28, 2006