Sec. 4. (a) A county fiscal body may adopt an ordinance providing that a deduction applies
to the assessed value of qualified personal property located in the county. The deduction is equal to one hundred percent (100%) of the assessed value of qualified
personal property located in the county for each calendar year specified in the ordinance. An ordinance adopted under this section must be adopted before January 1 of the
first assessment year for which a taxpayer may claim a deduction under the ordinance.
(b) An ordinance adopted under subsection (a) must specify the number of assessment
years that a deduction is allowed under this chapter. However, a deduction may not be allowed for:
(1) less than two (2) assessment years; or
(2) more than ten (10) assessment years.
(c) The fiscal body shall send a certified copy of the ordinance adopted under subsection
(a) to the county assessor, the county auditor, and the Indiana economic development
corporation. Subject to this chapter, the fiscal body's determination of the number of years
the deduction is allowed is final and may not be changed.
(d) An ordinance adopted under subsection (a) may not allow a deduction for qualified
personal property installed after March 1, 2015.
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