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IN SB0272
Bill
Status
Introduced
1/4/2012
Primary Sponsor
Timothy Lanane
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AI Summary
- Allows the Indiana Department of State Revenue to adjust the sales tax base period amount or income tax base period amount for certified technology parks when computational errors are discovered
- Requires redevelopment commissions seeking corrections to submit petitions demonstrating the error by a preponderance of the evidence, including explanations of the original calculation, why it should change, and the proposed correction
- Makes adjustments retroactive to either the date the incorrect amount became effective or July 1 of the state fiscal year immediately preceding the petition submission, whichever is later
- Requires the auditor of state to transfer any difference between incorrect and adjusted incremental tax amounts from the state general fund to the relevant certified technology park's incremental tax financing fund
- Declared an emergency measure, taking effect upon passage
Legislative Description
Certified technology parks.
Last Action
Pursuant to Senate Rule 68(b); reassigned to Committee on Tax and Fiscal Policy
1/9/2012
Full Bill Text
No bill text available