The following new laws are listed in the sequence in which they are located in the Indiana Code. Specifies that a taxpayer may claim the enterprise zone loan interest credit only if that taxpayer pays a registration fee, provides additional assistance to urban enterprise associations required of zone businesses, and complies with requirements adopted by the enterprise zone board.
Updates references to the Internal Revenue Code in certain Indiana income tax statutes.
Among other things, revises the procedure for refunding inheritance tax that has been illegally or erroneously collected. Treats resident financial institutions the same as nonresident financial institutions for purposes of the financial institutions tax, by providing that the tax is imposed upon the apportioned Indiana income of all financial institutions. Establishes conditions under which the current food and beverage tax or the new supplemental food and beverage tax will terminate. July 1, 2000. Provides that the commercial vehicle-marking requirements in the Code of Federal Regulations that apply to intrastate carriers do not apply to motor vehicles operated by intrastate carriers or guest users as a farm vehicle or for personal purposes.