Sec. 2. (a) As used in this section, "designating body" and "economic revitalization area" have the meanings set forth in IC 6-1.1-12.1-1 (as in effect before July 1, 1995). (b) Notwithstanding any other law, a designating body's actions taken after February 1, 1991, and before July 1, 1995, in: (1) designating an economic revitalization area; or (2) approving a statement of benefits or making required findings of fact after the initiation of the: (A) redevelopment; (B) installation of new manufacturing equipment; or (C) rehabilitation; for which the person desires to claim a deduction under IC 6-1.1-12.1 ; are legalized and validated.
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