2023 Indiana Code › Title 6. Taxation › Article 1.1. Property Taxes › Chapter 45. Enterprise Zone Investment Deduction › 6-1.1-45-9. Eligibility for Deduction; Amount; Conditions; Approval by Fiscal Body or Legislative Body

Sec. 9. (a) Subject to subsection (d), a taxpayer that makes a qualified investment is entitled to a deduction from the assessed value of the taxpayer's enterprise zone property located at the enterprise zone location for which the taxpayer made the qualified investment. The amount of the deduction is equal to the remainder of:
(1) the total amount of the assessed value of the taxpayer's enterprise zone property assessed at the enterprise zone location on a particular assessment date; minus
(2) the total amount of the base year assessed value for the enterprise zone location.
(b) Subject to subsection (c), a taxpayer that makes a qualified investment is entitled to a deduction from the assessed value of the taxpayer's entrepreneur and enterprise district property located at the entrepreneur and enterprise district location for which the taxpayer made the qualified investment. The amount of the deduction is equal to the remainder of:
(1) the total amount of the assessed value of the taxpayer's entrepreneur and enterprise district property assessed at the entrepreneur and enterprise district location on a particular assessment date; minus
(2) the total amount of the base year assessed value for the entrepreneur and enterprise district location.
(c) To receive the deduction allowed under subsection (a) or (b) for a particular year, a taxpayer must comply with the conditions set forth in this chapter.
(d) A taxpayer that makes a qualified investment in an enterprise zone established under IC 5-28-15-11 that is under the jurisdiction of a military base reuse authority board created under IC 36-7-14.5 or IC 36-7-30-3 is entitled to a deduction under this section only if the deduction is approved by the legislative body of the unit that established the military base reuse authority board.
(e) Except as provided in subsection (d), a taxpayer that makes a qualified investment at an enterprise zone location or an entrepreneur and enterprise district location that is located within an allocation area, as defined by IC 6-1.1-21.2-3, is entitled to a deduction under this section only if the deduction is approved by the:
(1) fiscal body of the unit, in the case of an allocation area established under IC 6-1.1-39;
(2) legislative body of the unit described in IC 8-22-3.5-1, in the case of an allocation area located in an airport development zone;
(3) legislative body of the unit that established the department of redevelopment, in the case of an allocation area established under IC 36-7-14;
(4) legislative body of the unit that established the redevelopment authority, in the case of an allocation area established under IC 36-7-14.5;
(5) legislative body of the consolidated city or excluded city that approved the establishment of the allocation area, in the case of an allocation area established under IC 36-7-15.1; or
(6) legislative body of the unit that established the reuse authority, in the case of an allocation area established under IC 36-7-30.
As added by P.L.214-2005, SEC.16. Amended by P.L.154-2006, SEC.60; P.L.211-2007, SEC.5; P.L.146-2008, SEC.304; P.L.238-2017, SEC.15.