Effective 1-1-2026. Revisor's Note: The effective date of IC 6-1.1-10-54 was changed to 1-1-2026 by P.L.213-2025, SEC.337. Sec. 54. (a) As used in this section, "designating body" means the fiscal body of: (1) a county that does not contain a consolidated city; or (2) a municipality. (b) As used in this section, "eligible business" means an entity that meets the following requirements: (1) The entity is engaged in a business that: (A) operates; or (B) leases qualified property for use in; one (1) or more facilities. (2) The entity's qualified property is located at a facility in Indiana. (3) The entity, the lessor of qualified property (if the entity is a lessee), and all lessees of qualified property invest in the aggregate at least one hundred million dollars ($100,000,000) in real and personal property at one (1) or more facilities in Indiana after January 1, 2026. (4) The average wage of employees who are located in the county or municipality and engaged in the operation of the facility is at least one hundred twenty-five percent (125%) of the county average wage for the county in which the facility operates. (c) As used in this section, "facility" has the meaning set forth in IC 6-2.5-15-5 . (d) As used in this section, "fiscal body" has the meaning set forth in IC 36-1-2-6 . (e) As used in this section, "municipality" has the meaning set forth in IC 36-1-2-11 . (f) As used in this section, "qualified property" means quantum safe fiber network equipment purchased after January 1, 2026, and any additions to or replacements to such property. (g) As used in this section, "quantum safe fiber network equipment" has the meaning set forth in IC 6-2.5-15-13.3 . (h) A designating body may enter into an agreement with an eligible business to grant the eligible business a property tax exemption. In the case of a county, the exemption applies only to qualified property that is located in unincorporated territory of the county. In the case of a municipality, the exemption applies only to qualified property that is located in the municipality. The property tax exemption applies to the qualified property only if the designating body and the eligible business enter into an agreement concerning the property tax exemption. The agreement must specify the duration of the property tax exemption. The agreement may specify that if the ownership of qualified property is transferred by an eligible business, the transferee is entitled to the property tax exemption on the same terms as the transferor. If a designating body enters into an agreement with an eligible business, the qualified property owned by the eligible business is exempt from property taxation as provided in the resolution and the agreement. (i) If a designating body enters into an agreement under subsection (h) to provide a property tax exemption, the property tax exemption continues for the period specified in the agreement. IC 6-1.1-10.1 Chapter 10.1. Repealed IC 6-1.1-10.3 Chapter 10.3. County Option Exemption of Business Personal Property 6-1.1-10.3-1 "Business personal property" 6-1.1-10.3-2 "Local income tax council" 6-1.1-10.3-2 Repealed 6-1.1-10.3-3 "Exemption ordinance" 6-1.1-10.3-3 "Exemption ordinance" 6-1.1-10.3-4 "New personal property" 6-1.1-10.3-5 Adoption of exemption ordinance by local income tax council 6-1.1-10.3-5 Adoption of exemption ordinance by county adopting body 6-1.1-10.3-6 Application of exemption ordinance to all new personal property 6-1.1-10.3-7 Repeal or amendment of exemption ordinance 6-1.1-10.3-7 Repeal or amendment of exemption ordinance 6-1.1-10.3-8 Application not required
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