Bill Text: IN HB1530 | 2013 | Regular Session | Introduced
Bill Title: Exemption of personal property.
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Introduced - Dead) 2013-02-12 - Representative Goodin added as coauthor [HB1530 Detail]
Download: Indiana-2013-HB1530-Introduced.html
Citations Affected: IC 6-1.1-10.2.
Synopsis: Exemption of personal property. Provides that, beginning
with the March 1, 2014, assessment date, a taxpayer is entitled to an
exemption for the taxpayer's new personal property located in a county,
unless the county council adopts an ordinance specifying that the
exemption does not apply to that particular county. Limits the
exemption to the first $100,000 of a taxpayer's new personal property
located in the county.
Effective: July 1, 2013.
January 22, 2013, read first time and referred to Committee on Ways and Means.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Chapter 10.2. Property Tax Exemption for New Personal Property
Sec. 1. As used in this chapter, "county fiscal body" refers to the fiscal body of a county as specified in IC 36-1-2-6.
Sec. 2. As used in this chapter, "new personal property" means personal property that a person acquires after June 30, 2013:
(1) in an arms length transaction from an entity that is not an affiliate of the person, if the personal property has been previously used in Indiana before the person acquires the personal property; or
(2) in any manner, if the personal property has never been previously used in Indiana before the person acquires the personal property.
Sec. 3. (a) Notwithstanding any other law and except as
provided in section 4 of this chapter, for assessment dates after
February 28, 2014, a taxpayer is entitled to an exemption for the
taxpayer's new personal property. However, the amount of the
exemption for the taxpayer's new personal property located in a
particular county may not exceed the lesser of:
(1) one hundred thousand dollars ($100,000); or
(2) the assessed value of the taxpayer's new personal property
located in the county.
(b) The taxpayer must file a statement with the county assessor
identifying the new personal property that is exempt under this
chapter.
Sec. 4. (a) A county fiscal body may adopt an ordinance
specifying that the exemption provided by this chapter does not
apply to that particular county.
(b) If a county fiscal body adopts an ordinance under subsection
(a) before July 1 of a calendar year, the exemption provided by this
chapter no longer applies to the county beginning with the March
1 assessment date in the following calendar year.
(c) If a county fiscal body adopts an ordinance under subsection
(a) after June 30 of a calendar year, the exemption provided by this
chapter no longer applies to the county beginning with the March
1 assessment date in the second calendar year following the
calendar year in which the ordinance is adopted.
(d) If a county fiscal body adopts an ordinance under subsection
(a), the county fiscal body shall provide a certified copy of the
ordinance to the department of local government finance.
(e) If any new personal property is exempted under this chapter
in a county for an assessment date and the county fiscal body
subsequently adopts an ordinance under subsection (a), the new
personal property that was exempted before the adoption of the
ordinance remains exempt after the adoption of the ordinance.
Sec. 5. A county fiscal body that adopts an ordinance under
section 4 of this chapter may repeal that ordinance.
Sec. 6. A taxpayer is not required to file an application to
qualify for the exemption provided by this chapter.
