Definitions
Sec. 1. For purposes of this chapter:
(1) "Economic revitalization area" means an area which is
within the corporate limits of a city, town, or county which has
become undesirable for, or impossible of, normal development
and occupancy because of a lack of development, cessation of
growth, deterioration of improvements or character of
occupancy, age, obsolescence, substandard buildings, or other
factors which have impaired values or prevent a normal
development of property or use of property. The term
"economic revitalization area" also includes:
(A) any area where a facility or a group of facilities that are
technologically, economically, or energy obsolete are
located and where the obsolescence may lead to a decline in
employment and tax revenues; and
(B) a residentially distressed area, except as otherwise
provided in this chapter.
(2) "City" means any city in this state, and "town" means any
town incorporated under IC 36-5-1.
(3) "New manufacturing equipment" means any tangible
personal property which:
(A) was installed after February 28, 1983, and on or before
the approval deadline determined under section 9 of this
chapter, in an area that is declared an economic
revitalization area after February 28, 1983, in which a
deduction for tangible personal property is allowed;
(B) is used in the direct production, manufacture,
fabrication, assembly, extraction, mining, processing,
refining, or finishing of other tangible personal property,
including but not limited to use to dispose of solid waste or
hazardous waste by converting the solid waste or hazardous
waste into energy or other useful products; and
(C) was acquired by its owner for use as described in clause
(B) and was never before used by its owner for any purpose
in Indiana.
However, notwithstanding any other law, the term includes
tangible personal property that is used to dispose of solid waste
or hazardous waste by converting the solid waste or hazardous
waste into energy or other useful products and was installed
after March 1, 1993, and before March 2, 1996, even if the
property was installed before the area where the property is
located was designated as an economic revitalization area or the
statement of benefits for the property was approved by the
designating body.
(4) "Property" means a building or structure, but does not
include land.
(5) "Redevelopment" means the construction of new structures,
in economic revitalization areas, either:
(A) on unimproved real estate; or
(B) on real estate upon which a prior existing structure is
demolished to allow for a new construction.
(6) "Rehabilitation" means the remodeling, repair, or betterment
of property in any manner or any enlargement or extension of
property.
(7) "Designating body" means the following:
(A) For a county that does not contain a consolidated city,
the fiscal body of the county, city, or town.
(B) For a county containing a consolidated city, the
metropolitan development commission.
(8) "Deduction application" means either:
(A) the application filed in accordance with section 5 of this
chapter by a property owner who desires to obtain the
deduction provided by section 3 of this chapter; or
(B) the application filed in accordance with section 5.4 of
this chapter by a person who desires to obtain the deduction
provided by section 4.5 of this chapter.
(9) "Designation application" means an application that is filed
with a designating body to assist that body in making a
determination about whether a particular area should be
designated as an economic revitalization area.
(10) "Hazardous waste" has the meaning set forth in
IC 13-11-2-99(a). The term includes waste determined to be a
hazardous waste under IC 13-22-2-3(b).
(11) "Solid waste" has the meaning set forth in
IC 13-11-2-205(a). However, the term does not include dead
animals or any animal solid or semisolid wastes.
(12) "New research and development equipment" means
tangible personal property that:
(A) is installed after June 30, 2000, and on or before the
approval deadline determined under section 9 of this chapter,
in an economic revitalization area in which a deduction for
tangible personal property is allowed;
(B) consists of:
(i) laboratory equipment;
(ii) research and development equipment;
(iii) computers and computer software;
(iv) telecommunications equipment; or
(v) testing equipment;
(C) is used in research and development activities devoted
directly and exclusively to experimental or laboratory
research and development for new products, new uses of
existing products, or improving or testing existing products;
and
(D) is acquired by the property owner for purposes described
in this subdivision and was never before used by the owner
for any purpose in Indiana.
The term does not include equipment installed in facilities used
for or in connection with efficiency surveys, management
studies, consumer surveys, economic surveys, advertising or
promotion, or research in connection with literacy, history, or
similar projects.
(13) "New logistical distribution equipment" means tangible
personal property that:
(A) is installed after June 30, 2004, and on or before the
approval deadline determined under section 9 of this chapter,
in an economic revitalization area in which a deduction for
tangible personal property is allowed.
(B) consists of:
(i) racking equipment;
(ii) scanning or coding equipment;
(iii) separators;
(iv) conveyors;
(v) fork lifts or lifting equipment (including "walk
behinds");
(vi) transitional moving equipment;
(vii) packaging equipment;
(viii) sorting and picking equipment; or
(ix) software for technology used in logistical distribution;
(C) is used for the storage or distribution of goods, services,
or information; and
(D) before being used as described in clause (C), was never
used by its owner for any purpose in Indiana.
(14) "New information technology equipment" means tangible
personal property that:
(A) is installed after June 30, 2004, and on or before the
approval deadline determined under section 9 of this chapter,
in an economic revitalization area in which a deduction for
tangible personal property is allowed.
(B) consists of equipment, including software, used in the
fields of:
(i) information processing;
(ii) office automation;
(iii) telecommunication facilities and networks;
(iv) informatics;
(v) network administration;
(vi) software development; and
(vii) fiber optics; and
(C) before being installed as described in clause (A), was
never used by its owner for any purpose in Indiana.
As added by Acts 1977, P.L.69, SEC.1. Amended by Acts 1979,
P.L.56, SEC.5; Acts 1980, P.L.42, SEC.1; Acts 1981, P.L.72, SEC.1;
P.L.71-1983, SEC.1; P.L.56-1988, SEC.1; P.L.47-1990, SEC.2;
P.L.42-1992, SEC.1; P.L.18-1992, SEC.21; P.L.25-1995, SEC.17;
P.L.1-1996, SEC.39; P.L.4-2000, SEC.1; P.L.64-2004, SEC.4 and
P.L.81-2004, SEC.48; P.L.216-2005, SEC.1.
Last modified: May 28, 2006