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IN HB1120
Bill
Status
1/8/2015
Primary Sponsor
Ryan Dvorak
Click for details
AI Summary
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Establishes "nanotechnology" definition as sciences and technologies enabling understanding, measuring, manipulating, and manufacturing at atomic, molecular, and supramolecular levels to create materials, devices, and systems with new molecular organization and properties.
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Amends the Indiana twenty-first century research and technology fund to allow grants or loans supporting economic development in nanotechnology alongside existing focus areas including biomedical research, biotechnology, information technology, alternative fuels, and fuel-efficient vehicles.
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Exempts nanotechnology equipment from property taxation if directly related to nanotechnology research or primarily used in a project, program, or business based on nanotechnology.
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Requires equipment owners to claim the exemption on their annual personal property return with property description and assessed value; township or county assessors review and approve or deny claims.
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Effective July 1, 2015; amends Indiana Code sections IC 5-28-16 and IC 6-1.1-10-47.
Legislative Description
Indiana nanotechnology initiative. Allows the award of grants or loans from the twenty-first century research and technology fund to support proposals for economic development in nanotechnology. Provides a personal property tax exemption for certain nanotechnology equipment.
Last Action
First Reading: referred to Committee on Commerce, Small Business and Economic Development
1/8/2015