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.

As added by P.L.220-2011, SEC.122.