Indiana Code 6-3.1-22-9. Qualifying conditions; assistance to office by department of natural resources
(1) The historic property is:
Terms Used In Indiana Code 6-3.1-22-9
- office: means the office of community and rural affairs established by Indiana Code 6-3.1-22-2
- preservation: means the application of measures to sustain the form, integrity, and material of:
Indiana Code 6-3.1-22-3
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- qualified expenditures: means expenditures for preservation or rehabilitation of a structure that enables the structure to be principally used and occupied by the taxpayer as the taxpayer's residence. See Indiana Code 6-3.1-22-4
- rehabilitation: means the process of returning a property to a state of utility through repair or alteration that makes possible an efficient contemporary residential use while preserving the parts or features of the property that are significant to the historical, architectural, or archeological values of the property. See Indiana Code 6-3.1-22-5
- taxpayer: means :
Indiana Code 6-3.1-22-7
(B) at least fifty (50) years old; and
(C) except as provided in section 8(c) of this chapter, owned by the taxpayer.
(2) The office certifies that the historic property is listed in the register of Indiana historic sites and historic structures.
(3) The office certifies that the taxpayer submitted a proposed preservation or rehabilitation plan to the office that complies with the standards of the office.
(4) The office certifies that the preservation or rehabilitation work that is the subject of the credit substantially complies with the proposed plan referred to in subdivision (3).
(5) The preservation or rehabilitation work is completed in not more than:
(A) two (2) years; or
(B) five (5) years if the preservation or rehabilitation plan indicates that the preservation or rehabilitation is initially planned for completion in phases.
The time in which work must be completed begins when the physical work of construction or destruction in preparation for construction begins.
(6) The historic property is principally used and occupied by the taxpayer as the taxpayer’s residence.
(7) The qualified expenditures for preservation or rehabilitation of the historic property exceed ten thousand dollars ($10,000).
(b) The division of historic preservation and archaeology of the department of natural resources shall assist the office, as requested and at no expense to the office, in making the certifications under this section.
As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.29.