Section 50 IAC 10-3-4 - Compliance with statement of benefitsAuthority: IC 6-1.1-12.1-13; IC 6-1.1-31-1
Affected: IC 5-14-3-3; IC 6-1.1-12.1
Sec. 4.
(a) The department has prescribed the following CF-1 forms for taxpayers to submit information to show compliance with the statement of benefits: (1) Form CF-1/PP, Compliance with Statement of Benefits - Personal Property (State Form 51765). (2) Form CF-1/Real Property, Compliance with Statement of Benefits - Real Estate Improvements (State Form 51766). (3) Form CF-1/UD, Compliance with Statement of Benefits - Utility Distributable Property (State Form 52448).(4) Form CF-1/VBD, Compliance with Statement of Benefits - Vacant Building Deduction (State Form 55183).(b) For the deduction for real property, the Form CF-1/Real Property or Form CF-1/VBD must be filed with the deduction application (Form 322/RE or Form 322/VBD), and it must be provided to the county auditor and the designating body before May 15. If a taxpayer has received a filing extension from the township or county assessor, Form CF-1/RP or Form CF-1/VBD must be filed no later than the extended due date.(c) For the deduction for new eligible equipment, the Form CF-1/PP must be filed with the deduction application (Form 103-ERA), and it must be provided to the county auditor and the designating body between March 1 January 1 and May 15 of each year in which the deduction is applicable. If a taxpayer has received a filing extension from the township or county assessor, the Form CF-1/PP must be filed no later than the extended due date.(d) For the deduction for utility distributable property, the Form CF-1/UD must be filed with the deduction application (Form UD-ERA), and it must be provided to the county auditor and the designating body between January 1 and May 15 of each year in which the deduction is applicable. If a taxpayer has received a filing extension from the township or county assessor, the Form CF-1/UD must be filed no later than the extended due date.(e) With the approval of the designating body, compliance information for multiple projects may be consolidated on one (1) compliance form (Form CF-1).(f) Except for information concerning the salaries paid to individual employees and the cost of new eligible equipment, the information contained on the applicable Form CF-1 is public information, and the a Form CF-1 may be inspected and copied under IC 5-14-3-3.(g) The designating body shall approve or deny a statement of benefits within forty-five (45) days after its submission for review. If the designating body does not issue a determination within forty-five (45) days after submission, the statement of benefits is considered to be in compliance.(h) In the event of noncompliance with the requirements set forth in IC 6-1.1-12.1-11.3(a) for a taxpayer to receive the deduction, a designating body may by resolution waive noncompliance described under IC 6-1.1-12.1-11.3(a) under the terms and conditions specified in the resolution. Before adopting a waiver, the designating body shall conduct a public hearing on the waiver.Department of Local Government Finance; 50 IAC 10-3-4; filed Feb 8, 1996, 5:30 p.m.: 19 IR 1299; filed Dec 21, 2000, 2:11 p.m.: 24 IR 1307Filed 11/2/2020, 9:34 a.m.: 20201202-IR-050190636FRA