Property tax credit application; required information; effect of a
change in ownership of high impact business
Sec. 11. (a) A high impact business that desires to obtain the
property tax credit provided by section 10 of this chapter must file a
certified credit application, on forms prescribed by the department of
local government finance, with the auditor of the county in which the
inventory is located. The credit application must be filed on or before
May 15 each year. If the high impact business obtains a filing
extension under IC 6-1.1-3-7(b) for any year, the application for the
year must be filed by the extended due date for that year.
(b) The property tax credit application required by this section
must contain the following information:
(1) The name of the high impact business owning the inventory.
(2) A description of the inventory for which a property tax
credit is claimed in sufficient detail to afford identification.
(3) The assessed value of the inventory subject to the property
tax credit.
(4) Any other information considered necessary by the
department of local government finance.
(c) On verification of the correctness of a property tax credit
application by the assessors of the townships in which the inventory
is located, the county auditor shall grant the property tax credit.
(d) The property tax credit and the period of the credit provided
for inventory under section 10 of this chapter are not affected by a
change in the ownership of the high impact business if the new
owner of the high impact business owning the inventory:
(1) continues the business operation of the high impact business
within the commission's jurisdiction and maintains employment
levels within the commission's jurisdiction consistent with the
certification and pledge required under section 9(a) of this
chapter; and
(2) files an application in the manner provided by subsections
(a) and (b).
As added by P.L.146-2002, SEC.1.
Last modified: May 28, 2006