Eligibility for certain tax deductions notwithstanding failure to

# (1)

designate or expand the boundaries of an economic revitalization area;

# (2)

file a statement of benefits or other information with the designating body;

# (3)

have a statement of benefits approved by a designating body;

# (4)

have a deduction under IC 6-1.1-12.1 (as in effect before January 1, 1994) granted by a designating body; or

# (5)

have the designating body make the findings of fact required under IC 6-1.1-12.1

(as in effect before January 1, 1994);
before installing new manufacturing equipment or initiating redevelopment or rehabilitation in an economic revitalization area is entitled to a tax deduction under IC 6-1.1-12.1 (as in effect before January 1, 1994) on property for assessment years after 1993 to the same extent as if the taxpayer had installed new manufacturing equipment or initiated redevelopment or rehabilitation after the actions described in subdivisions (1) through (5).

(d) The state board of tax commissioners and the county auditor in the county where the property is located shall approve the taxpayer's application for a deduction under IC 6-1.1-12.1 (as in effect before January 1, 1994) on the property as soon as feasible after May 10, 1995.

(e) This section applies only to property taxes first due and payable after 1994.
As added by P.L.220-2011, SEC.122. Amended by P.L.119-2012, SEC.27.