IN SB0395

Creates a tax credit for taxpayers with outdoor advertising signs assessed as depreciable tangible personal property for tax years 2011 through 2014.

Credit amount is calculated by comparing the current tax liability to what the liability would have been under pre-2010 valuation rules, then applying a declining phase-in multiplier (100% for 2011-2012, 67% for 2013, 33% for 2014).

Applies to assessment dates between March 1, 2010 and March 1, 2013, with the credit section expiring January 1, 2015.

Excludes the new advertising sign credit from the definition of "property tax liability" for other tax credit calculations under IC 6-1.1-20.6-3.

Effective retroactively to March 1, 2010.