Recent Developments in Indiana Taxation - I.U. School of Law ...

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1140 INDIANA LAW REVIEW [Vol. 40:1103 the county executive who may choose to transfer the property to a nonprofit 377 organization to be used for the public good. A county executive or MDC may hold, manage, develop, repair, maintain, improve, lease or enter into contracts to accomplish any of those functions for properties that did not sell for the minimum bid. 378 I. Miscellaneous The GA changed the date of automatic validation to bonds and other obligations previously issued by government entities from March 15, 2000, to March 15, 2006. 379 Counties and municipalities may now fund emergency warning systems using the Barrett Law. 380 The GA made a number of changes regarding Indiana motor fuels tax. The $0.01 per gallon tax credit for retail sale of blended biodiesel is available until 381 December 31, 2010, instead of December 31, 2006. The maximum credit available for ethanol production, biodiesel production and biodiesel blending is 382 now $50 million instead of $20 million. Finally, the GA extended the tax credit for integrated coal gasification power plants to investments in fluidized combustion bed technologies. 383 The GA relaxed the requirements and extended deadlines for several tax credits. For applications filed after March 31, 2006, the EDGE credit is available 384 to employers with at least 35 employees (down from 75) in Indiana. The wage criteria for determining eligibility for the EDGE credit are modified, but not 385 substantively. Awards of the EDGE credit are capped at $10 million for fiscal 23 (West)). 377. Id. § 6-1.1-24-6.7 (as amended by 2006 Ind. Legis. Serv. P.L. 169-2006 (H.E.A. 1102) § 26 (West)). 378. Id. § 6-1.1-25-9 (as amended by 2006 Ind. Legis. Serv. P.L. 169-2006 (H.E.A. 1102) § 31 (West)). 379. IND. CODE § 5-1-1-1 (2005) (as amended by 2006 Ind. Legis. Serv. P.L. 184-2006 (H.E.A. 1327) § 1 (West)). 380. IND. CODE §§ 36-9-36-2, -37-11, -38-2 (2004) (as amended by 2006 Ind. Legis. Serv. P.L. 42-2006 (H.E.A. 1107) § 1 (West)). 381. IND. CODE § 6-3.1-27-10(d) (2006) (as amended by 2006 Ind. Legis. Serv. P.L. 122-2006 (S.E.A. 353) § 8 (West)). 382. Id. § 6-3.1-27-9.5 (as amended by 2006 Ind. Legis. Serv. P.L. 122-2006 (S.E.A. 353) § 7 (West)). 383. Id. § 6-3.1-29-15 (as amended by 2006 Ind. Legis. Serv. P.L. 122-2006 (S.E.A. 353) § 13 (West)). 384. Id. § 6-3.1-13-15.5 (as amended by 2006 Ind. Legis. Serv. P.L. 137-2006 (H.E.A. 1380) § 4 (West)). 385. Id. The company must pay the greater of 105% of the average wages paid by companies in the same industry and county, or 105% of the average wages paid by companies in the same industry within Indiana, or 200% of minimum wage. Id.
2007] TAX LAW 1141 386 years 2006 and following, up from $5 million. The Headquarters Relocation 387 Credit is available for taxable years beginning after 2005 for companies that have at least $100 million in annual worldwide revenues (down from $500 million) for the previous year and that employ at least 75 people in Indiana. 388 389 The deadline for making a qualifying investment for the Hoosier Investment Credit is now January 1, 2012, instead of January 1, 2008. 390 The GA limits the use of students and teachers in promoting a bond issue and prevents professionals who provide services to a project from promoting a bond 391 issue for that project. The GA also defines standards for determining the validity of signatures on a remonstrance petition. 392 Motorboats that are registered in another state are not required to be registered or titled in Indiana if the owner pays the boat excise tax and certain fees, including a new $2 fee paid to the BMV. 393 J. Other Miscellaneous Tax Legislation 1. Utility Tax.—I.C. § 6-2.3-3-11 (effective July 1, 2006) was added to the utility receipts tax to provide that furnishing utility services to an end user in Indiana, whether or not the utility services are delivered through the pipelines, transmission lines, or property of another person and the taxpayer providing the utility service is or is not a resident of Indiana, or transaction is subject to a deduction under the mobile telecommunications sourcing act. 394 I.C. § 6-2.3-5.5 (effective July 1, 2006) was added to impose the utility services use tax on the consumption of utility services that are billed after June 395 30, 2006. The tax is measured by the gross consideration received by the seller from the sale of the utility services, and is imposed at the rate of 1.4%. 396 I.C. § 6-2.3-5.5-4 (effective July 1, 2006) was added to provide an exemption from the utility services use tax if the transaction is subject to the utility receipts 386. Id. 387. 2006 Ind. Legis. Serv. P.L. 137-2006 (H.E.A. 1380) § 17 (West). 388. IND. CODE § 6-3.1-30-2 (2006) (as amended by 2006 Ind. Legis. Serv. P.L. 137-2006 (H.E.A. 1380) § 8 (West)). 389. Id. § 6-3.1-30-8 (as amended by 2006 Ind. Legis. Serv. P.L. 137-2006 (H.E.A. 1380) § 9 (West)). 390. Id. § 6-3.1-26-26 (as amended by 2006 Ind. Legis. Serv. P.L. 137-2006 (H.E.A. 1380) § 7 (West)). 391. Id. § 6-1.1-20-10 (as amended by 2006 Ind. Legis. Serv. P.L. 162-2006 (H.E.A. 1001) § 5 (West)). 392. Id. § 6-1.1-20-11 (as added by 2006 Ind. Legis. Serv. P.L. 162-2006 (H.E.A. 1001) § 6 (West)). 393. Id. §§ 6-6-11-13; IND. CODE §§ 9-29-15-9, 9-31-3-2 (2004) (as amended by 2006 Ind. Legis. Serv. P.L. 46-2006 (H.E.A. 1331) § 1 (West)). 394. 2006 Ind. Legis. Serv. P.L. 162-2006 (H.E.A. 1001) § 18 (West). 395. 2006 Ind. Legis. Serv. P.L. 162-2006 (H.E.A. 1001) § 19 (West). 396. Id.
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Page 33 and 34: 2007] TAX LAW 1135 324 325 uses the
Page 35 and 36: 2007] TAX LAW 1137 Interest accrues
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