Resource recovery system
Sec. 3. (a) Except as provided in subsection (b), if:
(1) for federal income tax purposes a taxpayer is allowed a
depreciation deduction for a particular taxable year with respect
to a resource recovery system; and
(2) the resource recovery system processes solid waste or
hazardous waste;
the taxpayer is entitled to a deduction from the taxpayer's gross
receipts for that same taxable year. The amount of the deduction
equals the total depreciation deductions that the taxpayer is allowed,
with respect to the system, for that taxable year under Sections 167
and 179 of the Internal Revenue Code.
(b) A taxpayer is not entitled to the deduction provided by this
section for a particular taxable year with respect to a resource
recovery system that is directly used to dispose of hazardous waste
if during that taxable year the taxpayer:
(1) is convicted of any violation under IC 13-7-13-3 (before its
repeal), IC 13-7-13-4 (before its repeal), or IC 13-30-6; or
(2) is subject to an order or consent decree based upon a
violation of a federal or state rule, regulation, or statute
governing the treatment, storage, or disposal of hazardous
wastes that had a major or moderate potential for harm.
As added by P.L.192-2002(ss), SEC.47.
Last modified: May 28, 2006