Bill Text: IN HB1567 | 2013 | Regular Session | Introduced
Bill Title: Property tax deduction for farm security items.
Sponsorship: Partisan Bill (Republican 4)
Status: (Introduced - Dead) 2013-01-22 - First reading: referred to Committee on Ways and Means [HB1567 Detail]
Download: Indiana-2013-HB1567-Introduced.html
Citations Affected: IC 6-1.1-12-38.5.
Synopsis: Property tax deduction for farm security items. Provides a
property tax deduction, not to exceed $25,000 in assessed value per
year, relating to secure storage of fertilizers and pesticides that could
be used for terrorism or illegal drug manufacturing. Specifies that the
deduction is available for certain chemical additives and for property
that is: (1) installed or placed in service or added after March 1, 2013;
and (2) used to provide security for a fertilizer or pesticide. Provides
that, in addition to filing a certified application statement, a person
claiming the deduction must file a certification by the state chemist that
the property for which the deduction is claimed has been installed or
placed in service.
Effective: Upon passage.
January 22, 2013, read first time and referred to Committee on Ways and Means.
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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.
(b) As used in this section, "fertilizer" refers to a fertilizer that:
(1) is subject to the fertilizer storage rules adopted by the state chemist under IC 15-16-2-44; and
(2) could be used for terrorism or illegal drug manufacturing.
(c) As used in this section, "pesticide" refers to a pesticide that:
(1) is subject to the pesticide storage rules adopted by the pesticide review board under IC 15-16-4-50; and
(2) could be used for terrorism or illegal drug manufacturing.
(d) Subject to subsection (f), a person is entitled to an annual property tax deduction in an amount equal to the assessed value of any fencing or equipment that is:
(1) installed or placed in service after March 1, 2013; and
(2) used to provide security for a fertilizer or pesticide located at a facility by:
(A) restricting access to or control of; or
(B) conducting surveillance on or detecting unauthorized access to;
the fertilizer or pesticide.
(e) Subject to subsection (f), a person is entitled to an annual property tax deduction in an amount equal to the part of the assessed value of a fertilizer or pesticide located at a facility that is attributable to a chemical:
(1) added to the fertilizer or pesticide, after March 1, 2013; and
(2) designed to deter the theft of the fertilizer or pesticide.
(f) The total annual amount of the deduction that a person may receive for an assessment year under this section for a particular facility may not exceed twenty-five thousand dollars ($25,000).
(g) To obtain a deduction under this section, a person must file a certified statement in duplicate, on forms prescribed by the department of local government finance, with the auditor of the county in which the property is subject to assessment. In addition to the certified statement, the person must file a certification by the state chemist that the property for which the deduction is claimed has been installed or placed in service. The statement and certification must be filed during the year preceding the year the deduction will first be applied. Upon the verification of the statement by the assessor for the township in which the property is subject to assessment, the county auditor shall allow the deduction.
(b) This SECTION expires January 1, 2016.
