[r63] Bill authored by Rep. Messmer to promote economic growth heads to Governor's desk

Posted by: Zach Weismiller  | Friday, April 29, 2011

STATEHOUSE - A bill authored by State Rep. Mark Messmer (R-Jasper) passed its final vote in the House on Friday and is now headed to Indiana Gov. Mitch Daniels' desk for approval.

HB 1007 encourages economic growth through tax incentives designed to help and attract businesses in Indiana. The bill allows a city, town or county to establish tax abatements for a business that locates in a large, vacant building; agrees to invest at least $10 million in the community; rehabilitates and occupies property located in a downtown area; or locates in a county with high unemployment.

HB 1007 also allows a city, town or county to provide a tax exemption for enterprise information technology (IT) purchases by a business in 2013 and beyond and lets cities and counties provide hiring incentives for new employment in their jurisdictions.

"House Bill 1007 is about strengthening our economy and helping out not only our Hoosier businesses but also our Hoosier communities that have been affected by the economic recession," said Rep. Messmer.

"Through these incentives, we are encouraging and making it easier for businesses to hire on more workers and redevelop struggling downtown areas through taking over vacant buildings. Allowing the tax exemption for IT equipment will allow our businesses to modernize their equipment to help ensure that they are able to continue to compete in the ever changing global marketplace."

The bill also assigns a legislative summer study committee to study the possibility of allowing a county to approve property tax exemptions for certain types of personal property.

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Rep. Mark Messmer (R-Jasper)