Sec. 5. As used in this chapter, “relocation costs” means the reasonable and necessary expenses incurred by an eligible business for a qualifying project. The term includes:

(1) moving costs and related expenses;

Terms Used In Indiana Code 6-3.1-30-5

  • eligible business: means either of the following:

    Indiana Code 6-3.1-30-2

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • qualifying project: means the relocation of the corporate headquarters of an eligible business from a location outside Indiana to a location in Indiana. See Indiana Code 6-3.1-30-4
(2) the purchase of new or replacement equipment;

(3) capital investment costs; and

(4) property assembly and development costs, including:

(A) the purchase, lease, or construction of buildings and land;

(B) infrastructure improvements; and

(C) site development costs.

The term does not include any costs that do not directly result from the relocation of the business to a location in Indiana.

As added by P.L.193-2005, SEC.21.

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