Indiana Code Title 6. Taxation § 6-1.1-12.1-17

Sec. 17. (a) A designating body may provide to a business that is established in or relocated to a revitalization area and that receives a deduction under section 4 or 4.5 of this chapter an abatement schedule based on the following factors:

(b) This subsection applies to a statement of benefits approved after June 30, 2013.  A designating body shall establish an abatement schedule for each deduction allowed under this chapter.  An abatement schedule must specify the percentage amount of the deduction for each year of the deduction.  Except as provided in subsection (d) and section 18 of this chapter, an abatement schedule may not exceed ten (10) years.

(c) An abatement schedule approved for a particular taxpayer before July 1, 2013, remains in effect until the abatement schedule expires under the terms of the resolution approving the taxpayer's statement of benefits.

(d) An abatement schedule for new farm equipment or new agricultural improvement may not exceed five (5) years.