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IN HB1030
Bill
Status
1/6/2015
Primary Sponsor
Doug Gutwein
Click for details
AI Summary
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Adds new section IC 6-2.5-5-47 to define "drainage water management system" as a subsurface system including drainage tubing, drainage tiles, water flowgates, control valves, and related control systems designed for controlled water drainage from agricultural land used for crop production.
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Exempts transactions involving components of a drainage water management system from Indiana's state gross retail tax.
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Exemption applies only when the person acquiring the component is engaged in the business of agriculture.
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Effective date is July 1, 2015.
Legislative Description
Sales tax exemption for drainage water management system. Provides that a component of a drainage water management system intended for use on agricultural land used for crop production is exempt from sales tax if the person acquiring the component is engaged in the business of agriculture.
Last Action
First Reading: referred to Committee on Ways and Means
1/6/2015