Relocation of new manufacturing equipment
Sec. 4.6. (a) A designating body may adopt a resolution to
authorize a property owner to relocate new manufacturing equipment
for which a deduction is being granted under this chapter. The
resolution may provide that the new manufacturing equipment may
only be relocated to:
(1) a new location within the same economic revitalization area;
or
(2) a new location within a different economic revitalization
area if the area is within the jurisdiction of the designating
body.
(b) Before adopting a resolution under this section, the
designating body shall conduct a public hearing on the proposed
resolution. Notice of the public hearing shall be published in
accordance with IC 5-3-1. In addition, the designating body shall
notify each taxing unit within the original and the new economic
revitalization area of the proposed resolution, including the date and
time of the public hearing. If a resolution is adopted under this
section, the designating body shall deliver a copy of the adopted
resolution to the county auditor within thirty (30) days after its
adoption.
(c) New manufacturing equipment relocated under this section
remains eligible for the assessed value deduction under this chapter.
The same deduction percentage is to be applied as if the new
manufacturing equipment had not been relocated.
As added by P.L.126-2000, SEC.6. Amended by P.L.90-2002,
SEC.121; P.L.256-2003, SEC.4.
Last modified: May 28, 2006