Selected New Legislation

Steel Manufacturing: P.L. 138 (March 15, 2022)  

Expands applicability of "Pool 5" depreciation to include certain "mini-mill" steel production facilities which use electric arc furnaces to produce steel. 

Property Tax: P.L. 174 (March 21, 2022)

Amends the "burden shift rule" in property tax appeals where assessments have increased by more than 5% (See discussion of Supreme Court decision in Southlake, infra.) with the addition of new IC 6-1.1-15-20, which provides that if an increase of more than 5% has occurred, that assessment is no longer presumed to be equal to true tax value, and the Board can decide the appeal based upon the totality of the evidence.  If the totality of the evidence is insufficient for such a determination, the assessment reverts to the prior assessed value.  These amendments apply to assessment appeals filed after the effective date of this public law, which was March 21, 2022.

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