Vote Smart's Synopsis:

Vote to pass a bill that authorizes a county property tax exemption for new personal properties.

Highlights:

• Authorizes a county income tax council to exempt all “new personal property” located in the county from property taxation (Sec. 1).

• Defines “new personal property” as “business personal property” that meets the following criteria (Sec. 1):
• The property is placed in use by the taxpayer after the later of the date the ordinance is adopted or a date specified in the ordinance; and
• The property has not previously been used in Indiana prior to being acquired by the taxpayer.

• Defines “business personal property” as personal property used in trade or business or is otherwise held, used, or consumed in connection with the production of income (Sec. 1).

Full Bill Text