Be it enacted by the General Assembly of the State of Indiana:
SECTION 1. IC 6-1.1-5.5-3, AS AMENDED BY P.L.1-2004,
SECTION 9, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 3. (a) Before filing a conveyance document with
the county auditor under IC 6-1.1-5-4, all the parties to the conveyance
must complete and sign a sales disclosure form as prescribed by the
department of local government finance under section 5 of this chapter.
All the parties may sign one (1) form, or if all the parties do not agree
on the information to be included on the completed form, each party
may sign and file a separate form.
(b) Except as provided in subsection (c), the auditor shall forward
each sales disclosure form to the county assessor. The county assessor
shall retain the forms for five (5) years. The county assessor shall
forward the sales disclosure form data to the department of local
government finance and the legislative services agency:
(1) before January 1, 2005, in an electronic format, if possible;
and
(2) after December 31, 2004, in an electronic format specified
jointly by the department of local government finance and the
legislative services agency.
The county assessor shall forward a copy of the sales disclosure forms
to the township assessors in the county. The forms may be used by the
county assessing officials, the department of local government finance,
and the legislative services agency for the purposes established in
IC 6-1.1-4-13.6, sales ratio studies, equalization, adoption of rules
under IC 6-1.1-31-3 and IC 6-1.1-31-6, and any other authorized
purpose.
(c) In a county containing a consolidated city, the auditor shall
forward the sales disclosure form to the appropriate township assessor.
The township assessor shall forward the sales disclosure form to the
department of local government finance and the legislative services
agency:
(1) before January 1, 2005, in an electronic format, if possible;
and
(2) after December 31, 2004, in an electronic format specified
jointly by the department of local government finance and the
legislative services agency.
The township assessor shall forward a copy of the sales disclosure
forms to the township assessors in the county. The forms may be used
by the county assessing officials, the department of local government
finance, and the legislative services agency for the purposes established
in IC 6-1.1-4-13.6, sales ratio studies, equalization, adoption of rules
under IC 6-1.1-31-3 and IC 6-1.1-31-6, and any other authorized
purpose.
(d) If a sales disclosure form includes the telephone number or
Social Security number of a party, the telephone number or Social
Security number is confidential.
SECTION 2. IC 6-1.1-5.5-5, AS AMENDED BY P.L.90-2002,
SECTION 54, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 5. The department of local government finance
shall prescribe a sales disclosure form for use under this chapter. The
form prescribed by the department of local government finance must
include at least the following information:
(1) The key number of the parcel (as defined in IC 6-1.1-1-8.5).
(2) Whether the entire parcel is being conveyed.
(3) The address of the property.
(4) The date of the execution of the form.
(5) The date the property was transferred.
(6) Whether the transfer includes an interest in land or
improvements, or both.
(7) Whether the transfer includes personal property.
finance shall prescribe the form to be provided by closing agents
to customers under subsection (b). The department shall make the
form available to closing agents, county assessors, county auditors,
and county treasurers in hard copy and electronic form. County
assessors, county auditors, and county treasurers shall make the
form available to the general public. The form must:
(1) on one (1) side:
(A) list each benefit;
(B) list the eligibility criteria for each benefit; and
(C) indicate that a new application for a deduction under
section 1 of this chapter is required when residential real
property is refinanced;
(2) on the other side indicate:
(A) each action by; and
(B) each type of documentation from;
the customer required to file for each benefit; and
(3) be printed in one (1) of two (2) or more colors prescribed
by the department of local government finance that
distinguish the form from other documents typically used in
a closing referred to in subsection (b).
(d) A closing agent:
(1) may reproduce the form referred to in subsection (c);
(2) in reproducing the form, must use a print color prescribed
by the department of local government finance; and
(3) is not responsible for the content of the form referred to in
subsection (c) and shall be held harmless by the department
of local government finance from any liability for the content
of the form.
(e) A closing agent to which this section applies shall document
its compliance with this section with respect to each transaction in
the form of verification of compliance signed by the customer.
(f) A closing agent is subject to a civil penalty of twenty-five
dollars ($25) for each instance in which the closing agent fails to
comply with this section with respect to a customer. The penalty:
(1) may be enforced by the state agency that has
administrative jurisdiction over the closing agent in the same
manner that the agency enforces the payment of fees or other
penalties payable to the agency; and
(2) shall be paid into the property tax replacement fund.
A closing agent is not liable for any other damages claimed by a
customer because of the closing agent's mere failure to provide the
appropriate document to the customer.
(g) The state agency that has administrative jurisdiction over a
closing agent shall:
(1) examine the closing agent to determine compliance with
this section; and
(2) impose and collect penalties under subsection (f).
SECTION 4. IC 6-1.1-12.1-1, AS AMENDED BY P.L.4-2000,
SECTION 1, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 1. For purposes of this chapter:
(1) "Economic revitalization area" means an area which is within
the corporate limits of a city, town, or county which has become
undesirable for, or impossible of, normal development and
occupancy because of a lack of development, cessation of growth,
deterioration of improvements or character of occupancy, age,
obsolescence, substandard buildings, or other factors which have
impaired values or prevent a normal development of property or
use of property. The term "economic revitalization area" also
includes:
(A) any area where a facility or a group of facilities that are
technologically, economically, or energy obsolete are located
and where the obsolescence may lead to a decline in
employment and tax revenues; and
(B) a residentially distressed area, except as otherwise
provided in this chapter.
(2) "City" means any city in this state, and "town" means any town
incorporated under IC 36-5-1.
(3) "New manufacturing equipment" means any tangible personal
property which:
(A) was installed after February 28, 1983, and before January
1, 2006, in an area that is declared an economic revitalization
area after February 28, 1983, in which a deduction for tangible
personal property is allowed;
(B) is used in the direct production, manufacture, fabrication,
assembly, extraction, mining, processing, refining, or finishing
of other tangible personal property, including but not limited
to use to dispose of solid waste or hazardous waste by
converting the solid waste or hazardous waste into energy or
other useful products; and
(C) was acquired by its owner for use as described in clause
(B) and was never before used by its owner for any purpose in
Indiana.
However, notwithstanding any other law, the term includes
tangible personal property that is used to dispose of solid waste or
hazardous waste by converting the solid waste or hazardous waste
into energy or other useful products and was installed after March
1, 1993, and before March 2, 1996, even if the property was
installed before the area where the property is located was
designated as an economic revitalization area or the statement of
benefits for the property was approved by the designating body.
(4) "Property" means a building or structure, but does not include
land.
(5) "Redevelopment" means the construction of new structures in
economic revitalization areas, either:
(A) on unimproved real estate; or
(B) on real estate upon which a prior existing structure is
demolished to allow for a new construction.
(6) "Rehabilitation" means the remodeling, repair, or betterment
of property in any manner or any enlargement or extension of
property.
(7) "Designating body" means the following:
(A) For a county that does not contain a consolidated city, the
fiscal body of the county, city, or town.
(B) For a county containing a consolidated city, the
metropolitan development commission.
(8) "Deduction application" means either:
(A) the application filed in accordance with section 5 of this
chapter by a property owner who desires to obtain the
deduction provided by section 3 of this chapter; or
(B) the application filed in accordance with section 5.5 of this
chapter by a person who desires to obtain the deduction
provided by section 4.5 of this chapter.
(9) "Designation application" means an application that is filed
with a designating body to assist that body in making a
determination about whether a particular area should be
designated as an economic revitalization area.
(10) "Hazardous waste" has the meaning set forth in
IC 13-11-2-99(a). The term includes waste determined to be a
hazardous waste under IC 13-22-2-3(b).
(11) "Solid waste" has the meaning set forth in IC 13-11-2-205(a).
However, the term does not include dead animals or any animal
solid or semisolid wastes.
(12) "New research and development equipment" means tangible
personal property that:
(A) is installed after June 30, 2000, and before January 1,
2006, in an economic revitalization area in which a deduction
for tangible personal property is allowed;
(B) consists of:
(i) laboratory equipment;
(ii) research and development equipment;
(iii) computers and computer software;
(iv) telecommunications equipment; or
(v) testing equipment;
(C) is used in research and development activities devoted
directly and exclusively to experimental or laboratory research
and development for new products, new uses of existing
products, or improving or testing existing products; and
(D) is acquired by the property owner for purposes described
in this subdivision and was never before used by the owner for
any purpose in Indiana.
The term does not include equipment installed in facilities used
for or in connection with efficiency surveys, management studies,
consumer surveys, economic surveys, advertising or promotion,
or research in connection with literacy, history, or similar
projects.
(13) "New logistical distribution equipment" means tangible
personal property that:
(A) is installed after June 30, 2004, and before January 1,
2006, in an economic revitalization area:
(i) in which a deduction for tangible personal property is
allowed; and
(ii) located in a county referred to in section 2.3 of this
chapter, subject to section 2.3(c) of this chapter.
(B) consists of:
(i) racking equipment;
(ii) scanning or coding equipment;
(iii) separators;
(iv) conveyors;
(v) fork lifts or lifting equipment (including "walk
behinds");
(vi) transitional moving equipment;
(vii) packaging equipment;
(viii) sorting and picking equipment; or
(ix) software for technology used in logistical
distribution;
(C) is used for the storage or distribution of goods,
services, or information; and
(D) before being used as described in clause (C), was never
used by its owner for any purpose in Indiana.
(14) "New information technology equipment" means tangible
personal property that:
(A) is installed after June 30, 2004, and before January 1,
2006, in an economic revitalization area:
(i) in which a deduction for tangible personal property is
allowed; and
(ii) located in a county referred to in section 2.3 of this
chapter, subject to section 2.3(c) of this chapter.
(B) consists of equipment, including software, used in the
fields of:
(i) information processing;
(ii) office automation;
(iii) telecommunication facilities and networks;
(iv) informatics;
(v) network administration;
(vi) software development; and
(vii) fiber optics; and
(C) before being installed as described in clause (A), was
never used by its owner for any purpose in Indiana.
SECTION 5. IC 6-1.1-12.1-2, AS AMENDED BY P.L.4-2000,
SECTION 2, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 2. (a) A designating body may find that a
particular area within its jurisdiction is an economic revitalization area.
However, the deduction provided by this chapter for economic
revitalization areas not within a city or town shall not be available to
retail businesses.
(b) In a county containing a consolidated city or within a city or
town, a designating body may find that a particular area within its
jurisdiction is a residentially distressed area. Designation of an area as
a residentially distressed area has the same effect as designating an
area as an economic revitalization area, except that the amount of the
deduction shall be calculated as specified in section 4.1 of this chapter
and the deduction is allowed for not more than five (5) years. In order
to declare a particular area a residentially distressed area, the
designating body must follow the same procedure that is required to
designate an area as an economic revitalization area and must make all
the following additional findings or all the additional findings
described in subsection (c):
(1) The area is comprised of parcels that are either unimproved or
contain only one (1) or two (2) family dwellings or multifamily
dwellings designed for up to four (4) families, including accessory
buildings for those dwellings.
(2) Any dwellings in the area are not permanently occupied and
are:
(A) the subject of an order issued under IC 36-7-9; or
(B) evidencing significant building deficiencies.
(3) Parcels of property in the area:
(A) have been sold and not redeemed under IC 6-1.1-24 and
IC 6-1.1-25; or
(B) are owned by a unit of local government.
However, in a city in a county having a population of more than two
hundred thousand (200,000) but less than three hundred thousand
(300,000), the designating body is only required to make one (1) of the
additional findings described in this subsection or one (1) of the
additional findings described in subsection (c).
(c) In a county containing a consolidated city or within a city or
town, a designating body that wishes to designate a particular area a
residentially distressed area may make the following additional
findings as an alternative to the additional findings described in
subsection (b):
(1) A significant number of dwelling units within the area are not
permanently occupied or a significant number of parcels in the
area are vacant land.
(2) A significant number of dwelling units within the area are:
(A) the subject of an order issued under IC 36-7-9; or
(B) evidencing significant building deficiencies.
(3) The area has experienced a net loss in the number of dwelling
units, as documented by census information, local building and
demolition permits, or certificates of occupancy, or the area is
owned by Indiana or the United States.
(4) The area (plus any areas previously designated under this
subsection) will not exceed ten percent (10%) of the total area
within the designating body's jurisdiction.
designating body may:
(1) limit the time period to a certain number of calendar years
during which the area shall be so designated;
(2) limit the type of deductions that will be allowed within the
economic revitalization area to either the deduction allowed under
section 3 of this chapter or the deduction allowed under section
4.5 of this chapter;
(3) limit the dollar amount of the deduction that will be allowed
with respect to new manufacturing equipment, and new research
and development equipment, new logistical distribution
equipment, and new information technology equipment if a
deduction under this chapter had not been filed before July 1,
1987, for that equipment;
(4) limit the dollar amount of the deduction that will be allowed
with respect to redevelopment and rehabilitation occurring in
areas that are designated as economic revitalization areas on or
after September 1, 1988; or
(5) impose reasonable conditions related to the purpose of this
chapter or to the general standards adopted under subsection (g)
for allowing the deduction for the redevelopment or rehabilitation
of the property or the installation of the new manufacturing
equipment, or new research and development equipment, or both.
new logistical distribution equipment, or new information
technology equipment.
To exercise one (1) or more of these powers a designating body must
include this fact in the resolution passed under section 2.5 of this
chapter.
(j) Notwithstanding any other provision of this chapter, if a
designating body limits the time period during which an area is an
economic revitalization area, that limitation does not:
(1) prevent a taxpayer from obtaining a deduction for new
manufacturing equipment, or new research and development
equipment, or both, new logistical distribution equipment, or
new information technology equipment installed before January
1, 2006, but after the expiration of the economic revitalization
area if:
(A) the economic revitalization area designation expires after
December 30, 1995; and
(B) the new manufacturing equipment, or new research and
development equipment, or both, new logistical distribution
equipment, or new information technology equipment was
described in a statement of benefits submitted to and approved
by the designating body in accordance with section 4.5 of this
chapter before the expiration of the economic revitalization
area designation; or
(2) limit the length of time a taxpayer is entitled to receive a
deduction to a number of years that is less than the number of
years designated under section 4 or 4.5 of this chapter.
(k) Notwithstanding any other provision of this chapter, deductions:
(1) that are authorized under section 3 of this chapter for property
in an area designated as an urban development area before March
1, 1983, and that are based on an increase in assessed valuation
resulting from redevelopment or rehabilitation that occurs before
March 1, 1983; or
(2) that are authorized under section 4.5 of this chapter for new
manufacturing equipment installed in an area designated as an
urban development area before March 1, 1983;
apply according to the provisions of this chapter as they existed at the
time that an application for the deduction was first made. No deduction
that is based on the location of property or new manufacturing
equipment in an urban development area is authorized under this
chapter after February 28, 1983, unless the initial increase in assessed
value resulting from the redevelopment or rehabilitation of the property
or the installation of the new manufacturing equipment occurred before
March 1, 1983.
(l) If property located in an economic revitalization area is also
located in an allocation area (as defined in IC 36-7-14-39 or
IC 36-7-15.1-26), an application for the property tax deduction
provided by this chapter may not be approved unless the commission
that designated the allocation area adopts a resolution approving the
application.
SECTION 6. IC 6-1.1-12.1-2.3 IS ADDED AS A NEW SECTION
TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2004]: Sec. 2.3. (a)
This section applies only to:
(1) a county in which mile markers fourteen (14) through one
hundred twenty (120) of Interstate Highway 69 are located as
of March 1, 2004; and
(2) a city or town located in a county referred to in
subdivision (1).
(b) A designating body may adopt a resolution under section 2.5
of this chapter to authorize a deduction for new logistical
distribution equipment or new information technology equipment.
(c) If any amendment to this chapter that takes effect July 1,
2004, applies a deduction under this chapter for new logistical
distribution equipment or new information technology equipment
to a broader geographic area than the deduction that would apply
under a resolution adopted under this section, the more broadly
applied deduction controls with respect to the application of the
deduction for new logistical distribution equipment or new
information technology equipment.
SECTION 7. IC 6-1.1-12.1-4.5, AS AMENDED BY P.L.1-2003,
SECTION 22, AND AS AMENDED BY P.L.245-2003, SECTION 8,
IS CORRECTED AND AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2004]: Sec. 4.5. (a) For purposes of this section,
"personal property" means personal property other than inventory (as
defined in IC 6-1.1-3-11(a)).
(b) An applicant must provide a statement of benefits to the
designating body. The applicant must provide the completed statement
of benefits form to the designating body before the hearing specified in
section 2.5(c) of this chapter or before the installation of the new
manufacturing equipment, or new research and development
equipment, or both, new logistical distribution equipment, or new
information technology equipment for which the person desires to
claim a deduction under this chapter. The department of local
government finance shall prescribe a form for the statement of benefits.
The statement of benefits must include the following information:
(1) A description of the new manufacturing equipment, or new
research and development equipment, or both, new logistical
distribution equipment, or new information technology
equipment that the person proposes to acquire.
(2) With respect to:
(A) new manufacturing equipment not used to dispose of solid
waste or hazardous waste by converting the solid waste or
hazardous waste into energy or other useful products; and
(B) new research and development equipment, new logistical
distribution equipment, or new information technology
equipment;
an estimate of the number of individuals who will be employed or
whose employment will be retained by the person as a result of
the installation of the new manufacturing equipment, or new
research and development equipment, or both, new logistical
distribution equipment, or new information technology
equipment and an estimate of the annual salaries of these
individuals.
(3) An estimate of the cost of the new manufacturing equipment,
or new research and development equipment, or both. new
logistical distribution equipment, or new information
technology equipment.
(4) With respect to new manufacturing equipment used to dispose
of solid waste or hazardous waste by converting the solid waste
or hazardous waste into energy or other useful products, an
estimate of the amount of solid waste or hazardous waste that will
be converted into energy or other useful products by the new
manufacturing equipment.
The statement of benefits may be incorporated in a designation
application. Notwithstanding any other law, a statement of benefits is
a public record that may be inspected and copied under IC 5-14-3-3.
(c) The designating body must review the statement of benefits
required under subsection (b). The designating body shall determine
whether an area should be designated an economic revitalization area
or whether the deduction shall be allowed, based on (and after it has
made) the following findings:
(1) Whether the estimate of the cost of the new manufacturing
equipment, or new research and development equipment, or both,
new logistical distribution equipment, or new information
technology equipment is reasonable for equipment of that type.
(2) With respect to:
(A) new manufacturing equipment not used to dispose of solid
waste or hazardous waste by converting the solid waste or
hazardous waste into energy or other useful products; and
(B) new research and development equipment, new logistical
distribution equipment, or new information technology
equipment;
whether the estimate of the number of individuals who will be
employed or whose employment will be retained can be
reasonably expected to result from the installation of the new
manufacturing equipment, or new research and development
equipment, or both. new logistical distribution equipment, or
new information technology equipment.
(3) Whether the estimate of the annual salaries of those
individuals who will be employed or whose employment will be
retained can be reasonably expected to result from the proposed
installation of new manufacturing equipment, or new research and
development equipment, or both. new logistical distribution
equipment, or new information technology equipment.
(4) With respect to new manufacturing equipment used to dispose
of solid waste or hazardous waste by converting the solid waste
or hazardous waste into energy or other useful products, whether
the estimate of the amount of solid waste or hazardous waste that
will be converted into energy or other useful products can be
reasonably expected to result from the installation of the new
manufacturing equipment.
(5) Whether any other benefits about which information was
requested are benefits that can be reasonably expected to result
from the proposed installation of new manufacturing equipment,
or new research and development equipment, or both. new
logistical distribution equipment, or new information
technology equipment.
(6) Whether the totality of benefits is sufficient to justify the
deduction.
The designating body may not designate an area an economic
revitalization area or approve the deduction unless it makes the
findings required by this subsection in the affirmative.
(d) Except as provided in subsection (h), an owner of new
manufacturing equipment, or new research and development
equipment, or both, new logistical distribution equipment, or new
information technology equipment whose statement of benefits is
approved after June 30, 2000, is entitled to a deduction from the
assessed value of that equipment for the number of years determined
by the designating body under subsection (g). Except as provided in
subsection (f) and in section 2(i)(3) of this chapter, the amount of the
deduction that an owner is entitled to for a particular year equals the
product of:
(1) the assessed value of the new manufacturing equipment, or
new research and development equipment, or both, new logistical
distribution equipment, or new information technology
equipment in the year of deduction under the appropriate table
set forth in subsection (e); multiplied by
(2) the percentage prescribed in the appropriate table set forth in
subsection (e).
IC 13-7-13-4 (repealed), or IC 13-30-6; or
(2) is subject to an order or a consent decree with respect to
property located in Indiana based on a violation of a federal or
state rule, regulation, or statute governing the treatment, storage,
or disposal of hazardous wastes that had a major or moderate
potential for harm.
SECTION 8. IC 6-1.1-12.1-5.4, AS AMENDED BY P.L.245-2003,
SECTION 10, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 5.4. (a) A person that desires to obtain the
deduction provided by section 4.5 of this chapter must file a certified
deduction application on forms prescribed by the department of local
government finance with the auditor of the county in which the new
manufacturing equipment, or new research and development
equipment, or both, new logistical distribution equipment, or new
information technology equipment is located. A person that timely
files a personal property return under IC 6-1.1-3-7(a) for the year in
which the new manufacturing equipment, or new research and
development equipment, or both, new logistical distribution
equipment, or new information technology equipment is installed
must file the application between March 1 and May 15 of that year. A
person that obtains a filing extension under IC 6-1.1-3-7(b) for the year
in which the new manufacturing equipment, or new research and
development equipment, or both, new logistical distribution
equipment, or new information technology equipment is installed
must file the application between March 1 and the extended due date
for that year.
(b) The deduction application required by this section must contain
the following information:
(1) The name of the owner of the new manufacturing equipment,
or new research and development equipment, or both. new
logistical distribution equipment, or new information
technology equipment.
(2) A description of the new manufacturing equipment, or new
research and development equipment, or both. new logistical
distribution equipment, or new information technology
equipment.
(3) Proof of the date the new manufacturing equipment, or new
research and development equipment, or both, new logistical
distribution equipment, or new information technology
equipment was installed.
county auditor gives the person notice of the determination.
(i) Before the county auditor acts under subsection (e), the county
auditor may request that the township assessor in which the property is
located review the deduction application.
SECTION 9. IC 6-1.1-12.1-5.6, AS AMENDED BY P.L.4-2000,
SECTION 9, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 5.6. (a) This subsection applies to a property
owner whose statement of benefits was approved under section 4.5 of
this chapter before July 1, 1991. In addition to the requirements of
section 5.5(b) of this chapter, a deduction application filed under
section 5.5 of this chapter must contain information showing the extent
to which there has been compliance with the statement of benefits
approved under section 4.5 of this chapter. Failure to comply with a
statement of benefits approved before July 1, 1991, may not be a basis
for rejecting a deduction application.
(b) This subsection applies to a property owner whose statement of
benefits was approved under section 4.5 of this chapter after June 30,
1991. In addition to the requirements of section 5.5(b) of this chapter,
a property owner who files a deduction application under section 5.5
of this chapter must provide the county auditor and the designating
body with information showing the extent to which there has been
compliance with the statement of benefits approved under section 4.5
of this chapter.
(c) Notwithstanding IC 5-14-3 and IC 6-1.1-35-9, the following
information is a public record if filed under this section:
(1) The name and address of the taxpayer.
(2) The location and description of the new manufacturing
equipment, or new research and development equipment, or both,
new logistical distribution equipment, or new information
technology equipment for which the deduction was granted.
(3) Any information concerning the number of employees at the
facility where the new manufacturing equipment, or new research
and development equipment, or both, new logistical distribution
equipment, or new information technology equipment is
located, including estimated totals that were provided as part of
the statement of benefits.
(4) Any information concerning the total of the salaries paid to
those employees, including estimated totals that were provided as
part of the statement of benefits.
(5) Any information concerning the amount of solid waste or
hazardous waste converted into energy or other useful products by
the new manufacturing equipment.
(6) Any information concerning the assessed value of the new
manufacturing equipment, or new research and development
equipment, or both, new logistical distribution equipment, or
new information technology equipment including estimates that
were provided as part of the statement of benefits.
(d) The following information is confidential if filed under this
section:
(1) Any information concerning the specific salaries paid to
individual employees by the owner of the new manufacturing
equipment, or new research and development equipment, or both.
new logistical distribution equipment, or new information
technology equipment.
(2) Any information concerning the cost of the new
manufacturing equipment, or new research and development
equipment, or both. new logistical distribution equipment, or
new information technology equipment.
SECTION 10. IC 6-1.1-12.1-5.8, AS AMENDED BY P.L.256-2003,
SECTION 6, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 5.8. In lieu of providing the statement of benefits
required by section 3 or 4.5 of this chapter and the additional
information required by section 5.1 or 5.6 of this chapter, the
designating body may, by resolution, waive the statement of benefits if
the designating body finds that the purposes of this chapter are served
by allowing the deduction and the property owner has, during the
thirty-six (36) months preceding the first assessment date to which the
waiver would apply, installed new manufacturing equipment, or new
research and development equipment, or both, new logistical
distribution equipment, or new information technology equipment
or developed or rehabilitated property at a cost of at least ten million
dollars ($10,000,000) as determined by the assessor of the township in
which the property is located.
SECTION 11. IC 6-1.1-12.1-8, AS AMENDED BY P.L.90-2002,
SECTION 125, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2004]: Sec. 8. (a) Not later than December 31
of each year, the county auditor shall publish the following in a
newspaper of general interest and readership and not one of limited
subject matter:
(1) A list of the approved deduction applications that were filed
under this chapter during that year. The list must contain the
following:
(A) The name and address of each person approved for or
receiving a deduction that was filed for during the year.
(B) The amount of each deduction that was filed for during the
year.
(C) The number of years for which each deduction that was
filed for during the year will be available.
(D) The total amount for all deductions that were filed for and
granted during the year.
(2) The total amount of all deductions for real property that were
in effect under section 3 of this chapter during the year.
(3) The total amount of all deductions for new manufacturing
equipment, or new research and development equipment, or both,
new logistical distribution equipment, or new information
technology equipment that were in effect under section 4.5 of
this chapter during the year.
(b) The county auditor shall file the information described in
subsection (a)(2) and (a)(3) with the department of local government
finance not later than December 31 of each year.
SECTION 12. IC 6-1.1-12.1-11.3, AS AMENDED BY
P.L.245-2003, SECTION 11, IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2004]: Sec. 11.3. (a) This section
applies only to the following requirements:
(1) Failure to provide the completed statement of benefits form to
the designating body before the hearing required by section 2.5(c)
of this chapter.
(2) Failure to submit the completed statement of benefits form to
the designating body before the initiation of the redevelopment or
rehabilitation or the installation of new manufacturing equipment,
or new research and development equipment, or both, new
logistical distribution equipment, or new information
technology equipment for which the person desires to claim a
deduction under this chapter.
(3) Failure to designate an area as an economic revitalization area
before the initiation of the:
(A) redevelopment;
(B) installation of new manufacturing equipment, or new
research and development equipment, or both; new logistical
distribution equipment, or new information technology
equipment; or
(C) rehabilitation;
for which the person desires to claim a deduction under this
chapter.
(4) Failure to make the required findings of fact before
designating an area as an economic revitalization area or
authorizing a deduction for new manufacturing equipment, or new
research and development equipment, or both, new logistical
distribution equipment, or new information technology
equipment under section 2, 3, or 4.5 of this chapter.
(5) Failure to file a:
(A) timely; or
(B) complete;
deduction application under section 5 or 5.4 of this chapter.
(b) This section does not grant a designating body the authority to
exempt a person from filing a statement of benefits or exempt a
designating body from making findings of fact.
(c) A designating body may by resolution waive noncompliance
described under subsection (a) under the terms and conditions specified
in the resolution. Before adopting a waiver under this subsection, the
designating body shall conduct a public hearing on the waiver.
SECTION 13. IC 6-1.1-22-8 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 8. (a) The county
treasurer shall either:
(1) mail to the last known address of each person liable for any
property taxes or special assessment, as shown on the tax
duplicate or special assessment records, or to the last known
address of the most recent owner shown in the transfer book a
statement of current and delinquent taxes and special
assessments; or
(2) transmit by written, electronic, or other means to a mortgagee
maintaining an escrow account for a person who is liable for any
property taxes or special assessments, as shown on the tax
duplicate or special assessment records a statement of current and
delinquent taxes and special assessments.
(b) The county treasurer may include the following in the statement:
(1) An itemized listing for each property tax levy, including:
(A) the amount of the tax rate;
(B) the entity levying the tax owed; and
(C) the dollar amount of the tax owed.
31, 2003, or December 31, 2004 (as determined in the
ordinance), and before January 1, 2008; and
(2) in all counties for taxes first due and payable after
December 31, 2007.
(e) Subject to subsection (d), regardless of whether a county
treasurer transmits a statement of current and delinquent taxes
and special assessments to a person liable for the taxes under
subsection (a)(1) or to a mortgagee under subsection (a)(2), the
county treasurer shall mail the following information to the last
known address of each person liable for the property taxes or
special assessments or to the last known address of the most recent
owner shown in the transfer book. The county treasurer shall mail
the information not later than the date the county treasurer
transmits a statement for the property under subsection (a)(1) or
(a)(2). The county treasurer, county auditor, and county assessor
shall cooperate to generate the information to be included on the
form. The information that must be provided is the following:
(1) A breakdown showing the total property tax and special
assessment liability and the amount of the taxpayer's liability
that will be distributed to each taxing unit in the county.
(2) A comparison showing any change in the assessed
valuation for the property as compared to the previous year.
(3) A comparison showing any change in the property tax and
special assessment liability for the property as compared to
the previous year. The information required under this
subdivision must identify:
(A) the amount of the taxpayer's liability distributable to
each taxing unit in which the property is located in the
current year and in the previous year; and
(B) the percentage change, if any, in the amount of the
taxpayer's liability distributable to each taxing unit in
which the property is located from the previous year to the
current year.
(4) An explanation of the following:
(A) The homestead credit and all property tax deductions.
(B) The procedure and deadline for filing for the
homestead credit and each deduction.
(C) The procedure that a taxpayer must follow to:
(i) appeal a current assessment; or
(ii) petition for the correction of an error related to the
taxpayer's property tax and special assessment liability.
credits.
(F) Any other data relevant to the accurate determination of
real property and personal property tax assessments.
(2) Make available to each county and township software that
permits the transfer of the data described in subdivision (1) to the
division in a uniform format through a secure connection over the
Internet.
(3) Analyze the data compiled under this section for the purpose
of performing the functions under section 3 of this chapter.
(4) Conduct continuing studies of personal and real property tax
deductions, abatements, and exemptions used throughout Indiana.
The division of data analysis shall, before May 1 of each
even-numbered year, report on the studies at a meeting of the
budget committee and submit a report on the studies to the
legislative services agency for distribution to the members of the
legislative council. The report must be in an electronic format
under IC 5-14-6.
SECTION 15. IC 24-4.5-3-701 IS ADDED TO THE INDIANA
CODE AS A NEW SECTION TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2004]: Sec. 701. With respect to a consumer
loan secured by an interest in land used or expected to be used as
the principal dwelling of the debtor, a lender shall comply with
IC 6-1.1-12-43.
SECTION 16. IC 25-34.1-1-2 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 2. As used in this
article:
"Person" means an individual, a partnership, a corporation, or a
limited liability company.
"Commission" means the Indiana real estate commission.
"Real estate" means any right, title, or interest in real property.
"Broker" means a person who, for consideration, sells, buys, trades,
exchanges, options, leases, rents, manages, lists, or appraises real estate
or negotiates or offers to perform any of those acts.
"Salesperson" means an individual, other than a broker, who, for
consideration and in association with and under the auspices of a
broker, sells, buys, trades, exchanges, options, leases, rents, manages,
or lists real estate or negotiates or offers to perform any of those acts.
"Broker-salesperson" means an individual broker who is acting in
association with and under the auspices of another broker.
"Principal broker" means a broker who is not acting as a
broker-salesperson.
"License" means a broker or salesperson license issued under this
article and which is not expired, suspended, or revoked.
"Licensee" means a person who holds a license issued under this
article. The term does not include a person who holds a real estate
appraiser license or certificate issued under the real estate appraiser
licensure and certification program established under IC 25-34.1-3-8.
"Course approval" means approval of a broker or salesperson course
granted under this article which is not expired, suspended, or revoked.
"Licensing agency" means the Indiana professional licensing agency
established by IC 25-1-6-3.
"Board" refers to the real estate appraiser licensure and certification
board established under IC 25-34.1-8-1.
"Commercial real estate" means a parcel of real estate other
than real estate containing one (1) to four (4) residential units. This
term does not include single family residential units such as:
(1) condominiums;
(2) townhouses;
(3) manufactured homes; or
(4) homes in a subdivision when sold, leased, or otherwise
conveyed on a unit-by-unit basis, even if those units are part
of a larger building or parcel of real estate containing more
than four (4) residential units.
"Out-of-state commercial broker" includes a person, a
partnership, an association, a limited liability company, a limited
liability partnership, or a corporation that is licensed to do
business as a broker in a jurisdiction other than Indiana.
"Out-of-state commercial salesperson" includes a person
affiliated with an out-of-state commercial broker who is not
licensed as a salesperson under this article.
SECTION 17. IC 25-34.1-3-2 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 2. (a) Except as
provided in:
(1) subsection (b); and
(2) section 8(i) of this chapter; and
(3) section 11 of this chapter;
no person shall, for consideration, sell, buy, trade, exchange, option,
lease, rent, manage, list, or appraise real estate or negotiate or offer to
perform any of those acts in Indiana or with respect to real estate
situated in Indiana, without a license.
the license of:
(1) any partner in a partnership or all individuals in a corporation
satisfying subsection (c)(1); or
(2) a member in a member-managed limited liability company or
all individuals in a manager-managed limited liability company
satisfying subsection (d)(2);
terminates the license of that partnership, corporation, or limited
liability company.
(f) Upon the applicant's compliance with the requirements of
subsection (a), (b), or (c), the commission shall issue the applicant a
broker license and an identification card which certifies the issuance
of the license and indicates the expiration date of the license. The
license shall be displayed at the broker's place of business.
(g) Notice of passing the commission examination serves as a
temporary permit for an individual applicant to act as a broker as soon
as the applicant sends, by registered or certified mail with return
receipt requested, a timely license fee as prescribed in subsection
(a)(6). The temporary permit expires the earlier of one hundred twenty
(120) days after the date of the notice of passing the examination or the
date a license is issued.
(h) A broker license expires, for individuals, at midnight, December
31 and, for corporations, partnerships, and limited liability companies
at midnight, June 30 of the next even-numbered year following the year
in which the license is issued or last renewed, unless the licensee
renews the license prior to expiration by payment of a biennial license
fee of fifty dollars ($50). An expired license may be reinstated within
one hundred twenty (120) days after expiration by payment of all
unpaid license fees together with twenty dollars ($20). If the license is
renewed within eighteen (18) months, but more than one hundred
twenty (120) days, after expiration, the licensee must pay a late fee of
one hundred dollars ($100) plus any unpaid license fees. If a broker
fails to reinstate a license within eighteen (18) months after expiration,
a license may not be issued unless the broker again complies with the
requirements of subsection (a)(4), (a)(5), and (a)(6).
(i) A partnership, corporation, or limited liability company may not
be a broker-salesperson except as authorized in IC 23-1.5. An
individual broker who associates as a broker-salesperson with a
principal broker shall immediately notify the commission of the name
and business address of the principal broker and of any changes of
principal broker that may occur. The commission shall then change the
address of the broker-salesperson on its records to that of the principal
broker.
SECTION 19. IC 25-34.1-3-5 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 5. (a) A resident of
another state, meeting the requirements of this chapter, may be
licensed.
(b) A nonresident individual broker may act only as a
broker-salesperson.
(c) (b) A nonresident salesperson or broker shall file with the
commission a written consent that any action arising out of the conduct
of the licensee's business in Indiana may be commenced in any county
of this state in which the cause of action accrues. The consent shall
provide that service of process may be made upon the commission, as
agent for the nonresident licensee, and that service in accordance with
the Indiana Rules of Trial Procedure subjects the licensee to the
jurisdiction of the courts in that county.
(d) (c) The requirements of this section may be waived for
individuals of or moving from other jurisdictions if the following
requirements are met:
(1) The jurisdiction grants the same privilege to the licensees of
this state.
(2) The individual is licensed in that jurisdiction.
(3) The licensing requirements of that jurisdiction are
substantially similar to the requirements of this chapter.
(4) The applicant states that the applicant has studied, is familiar
with, and will abide by the statutes and rules of this state.
SECTION 20. IC 25-34.1-3-11 IS ADDED TO THE INDIANA
CODE AS A NEW SECTION TO READ AS FOLLOWS
[EFFECTIVE UPON PASSAGE]: Sec. 11. (a) An out-of-state
commercial broker, for a fee, commission, or other valuable
consideration, or in expectation, or upon the promise of receiving
or collecting a fee, commission, or other valuable consideration,
may perform acts with respect to commercial real estate that
require a license under this article without a license under this
article, if the out-of-state commercial broker does all of the
following:
(1) Works in cooperation with a broker who holds a valid
license issued under this article.
(2) Enters into a written agreement with the broker described
in subdivision (1) that includes the terms of cooperation and
compensation and a statement that the out-of-state
commercial broker and the broker's agents will comply with
the laws of this state.
(3) Furnishes the broker described in subdivision (1) with a
copy of the out-of-state commercial broker's current
certificate of good standing or other proof of a license in good
standing from a jurisdiction where the out-of-state
commercial broker maintains a valid real estate license.
(4) Files an irrevocable written consent with the commission
that legal actions arising out of the conduct of the out-of-state
commercial broker or the broker's agents may be commenced
against the out-of-state commercial broker in a court with
jurisdiction in a county in Indiana in which the cause of action
accrues.
(5) Advertises in compliance with state law and includes the
name of the broker described in subdivision (1) in all
advertising.
(6) Deposits all escrow funds, security deposits, and other
money received by either the out-of-state commercial broker
or the broker described in subdivision (1) in a trust account
maintained by the broker described in subdivision (1).
(7) Deposits all documentation required by this section and
records and documents related to the transaction with the
broker described in subdivision (1).
(b) The broker described in subsection (a)(1) shall retain the
documentation that is provided by the out-of-state commercial
broker as required under this section, and the records and
documents related to a transaction, for at least five (5) years.
(c) An out-of-state commercial salesperson may perform acts
with respect to commercial real estate that require a salesperson
to be licensed under this article without a license under this article
if the out-of-state commercial salesperson meets all of the following
requirements:
(1) The out-of-state commercial salesperson:
(A) is licensed with and works under the direct supervision
of the out-of-state commercial broker;
(B) provides the broker described in subsection (a)(1) with
a copy of the out-of-state commercial salesperson's current
certificate of good standing or other proof of a license in
good standing from the jurisdiction where the out-of-state
commercial salesperson maintains a valid real estate
license in connection with the out-of-state commercial
broker; and
(C) collects money, including:
(i) commissions;
(ii) deposits;
(iii) payments;
(iv) rentals; or
(v) escrow funds;
only in the name of and with the consent of the out-of-state
commercial broker under whom the out-of-state
commercial salesperson is licensed.
(2) The out-of-state commercial broker described in
subdivision (1)(A) meets all of the requirements of subsection
(a).
(d) A person licensed in a jurisdiction where there is not a legal
distinction between a real estate broker license and a real estate
salesperson license must meet the requirements of subsection (a)
before engaging in an act that requires a license under this article.
(e) An out-of-state commercial broker or salesperson acting
under this section shall file a written consent as provided in section
5(b) of this chapter.
SECTION 21. IC 25-34.1-4-3 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 3. (a) Except as
provided in subsection (b), each individual who is a principal broker
or is designated by a partnership, corporation, or a limited liability
company pursuant to section 2 of this chapter shall be a resident of
Indiana.
(b) A nonresident:
(1) individual broker; or
(2) individual designated by a partnership, corporation, or
limited liability company under section 2 of this chapter;
may be a principal broker if all the licensees affiliated with the
broker, partnership, corporation, or limited liability company are
not residents of Indiana.
SECTION 22. IC 27-1-15.6-4, AS AMENDED BY P.L.129-2003,
SECTION 3, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 4. (a) As used in this section, "insurer" does not
include an officer, director, employee, subsidiary, or affiliate of an
insurer.
(b) This chapter does not require an insurer to obtain an insurance
producer license.
association.
(C) The trustees of an employee trust plan.
(4) An:
(A) employee of an insurer; or
(B) organization employed by insurers;
that is engaged in the inspection, rating, or classification of risks,
or in the supervision of the training of insurance producers, and
that is not individually engaged in the sale, solicitation, or
negotiation of insurance.
(5) A person whose activities in Indiana are limited to advertising,
without the intent to solicit insurance in Indiana, through
communications in printed publications or other forms of
electronic mass media whose distribution is not limited to
residents of Indiana, provided that the person does not sell, solicit,
or negotiate insurance that would insure risks residing, located, or
to be performed in Indiana.
(6) A person who is not a resident of Indiana and who sells,
solicits, or negotiates a contract of insurance for commercial
property and casualty risks to an insured with risks located in
more than one state insured under that contract, provided that:
(A) the person is otherwise licensed as an insurance producer
to sell, solicit, or negotiate the insurance in the state where the
insured maintains its principal place of business; and
(B) the contract of insurance insures risks located in that state.
(7) A salaried full-time employee who counsels or advises the
employee's employer about the insurance interests of the
employer or of the subsidiaries or business affiliates of the
employer, provided that the employee does not sell or solicit
insurance or receive a commission.
(8) An officer, employee, or representative of a rental company
(as defined in IC 24-4-9-7) who negotiates or solicits insurance
incidental to and in connection with the rental of a motor vehicle.
(9) An individual who:
(A) furnishes only title insurance rate information at the
request of a consumer; and
(B) does not discuss the terms or conditions of a title
insurance policy.
SECTION 23. IC 27-1-15.6-6, AS AMENDED BY P.L.1-2002,
SECTION 106, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2004]: Sec. 6. (a) A person applying for a
resident insurance producer license shall make application to the
commissioner on the uniform application and declare under penalty of
refusal, suspension, or revocation of the license that the statements
made in the application are true, correct, and complete to the best of the
individual's knowledge and belief.
(b) Before approving an application submitted under subsection (a),
the commissioner must find that the individual meets the following
requirements:
(1) Is at least eighteen (18) years of age.
(2) Has not committed any act that is a ground for denial,
suspension, or revocation under section 12 of this chapter.
(3) Has completed, if required by the commissioner, a certified
prelicensing course of study for the lines of authority for which
the individual has applied.
(4) Has paid the nonrefundable fee set forth in section 32 of this
chapter.
(5) Has successfully passed the examinations for the lines of
authority for which the individual has applied.
(c) An applicant for a resident insurance producer license must file
with the commissioner on a form prescribed by the commissioner a
certification of completion certifying that the applicant has completed
an insurance producer program of study certified by the commissioner
under IC 27-1-15.7-5 not more than six (6) months before the
application for the license is received by the commissioner. This
subsection applies only to licensees seeking qualification in the lines
of insurance described in sections 7(a)(1) through 7(a)(6) and 7(a)(8)
of this chapter.
(d) A business entity, before acting as an insurance producer, is
required to obtain an insurance producer license. The application
submitted by a business entity under this subsection must be made
using the uniform business entity application. Before approving the
application, the commissioner must find that the business entity has:
(1) paid the fees required under section 32 of this chapter; and
(2) designated an individual licensed producer responsible for the
business entity's compliance with the insurance laws and
administrative rules of Indiana.
(e) The commissioner may require any documents reasonably
necessary to verify the information contained in an application
submitted under this subsection.
(f) An insurer that sells, solicits, or negotiates any form of limited
line credit insurance shall provide a program of instruction approved
by the commissioner to each individual whose duties will include
selling, soliciting, or negotiating limited line credit insurance.
SECTION 24. IC 27-1-15.6-7, AS ADDED BY P.L.132-2001,
SECTION 3, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 7. (a) Unless denied licensure under section 12 of
this chapter, a person who has met the requirements of sections 5 and
6 of this chapter shall be issued an insurance producer license. An
insurance producer may receive qualification for a license in one or
more of the following lines of authority:
(1) Life _ insurance coverage on human lives, including benefits
of endowment and annuities, that may include benefits in the
event of death or dismemberment by accident and benefits for
disability income.
(2) Accident and health or sickness _ insurance coverage for
sickness, bodily injury, or accidental death that may include
benefits for disability income.
(3) Property _ insurance coverage for the direct or consequential
loss of or damage to property of every kind.
(4) Casualty _ insurance coverage against legal liability,
including liability for death, injury, or disability, or for damage to
real or personal property.
(5) Variable life and variable annuity products _ insurance
coverage provided under variable life insurance contracts and
variable annuities.
(6) Personal lines _ property and casualty insurance coverage
sold to individuals and families for primarily noncommercial
purposes.
(7) Credit _ limited line credit insurance.
(8) Title _ insurance coverage against loss or damage on
account of encumbrances on or defects in the title to real
estate.
(9) Any other line of insurance permitted under Indiana laws or
administrative rules.
(b) A person who requests and receives qualification under
subsection (a)(5) for variable life and annuity products:
(1) is considered to have requested; and
(2) shall receive;
a life qualification under subsection (a)(1).
(c) A resident insurance producer may not request separate
qualifications for property insurance and casualty insurance under
subsection (a).
(d) An insurance producer license remains in effect unless revoked
or suspended, as long as the renewal fee set forth in section 32 of this
chapter is paid and the educational requirements for resident individual
producers are met by the due date.
(e) An individual insurance producer who:
(1) allows the individual insurance producer's license to lapse;
and
(2) completed all required continuing education before the license
expired;
may, not more than twelve (12) months after the expiration date of the
license, reinstate the same license without the necessity of passing a
written examination. A penalty in the amount of three (3) times the
unpaid renewal fee shall be required for any renewal fee received after
the expiration date of the license. However, the department of
insurance may waive the penalty if the renewal fee is received not more
than thirty (30) days after the expiration date of the license.
(f) A licensed insurance producer who is unable to comply with
license renewal procedures due to military service or some other
extenuating circumstance may request a waiver of the license renewal
procedures. The producer may also request a waiver of any
examination requirement or any other fine or sanction imposed for
failure to comply with the license renewal procedures.
(g) An insurance producer license shall contain the licensee's name,
address, personal identification number, date of issuance, lines of
authority, expiration date, and any other information the commissioner
considers necessary.
(h) A licensee shall inform the commissioner of a change of address
not more than thirty (30) days after the change by any means
acceptable to the commissioner. The failure of a licensee to timely
inform the commissioner of a change in legal name or address shall
result in a penalty under section 12 of this chapter.
(i) To assist in the performance of the commissioner's duties, the
commissioner may contract with nongovernmental entities, including
the National Association of Insurance Commissioners (NAIC), or any
affiliates or subsidiaries that the NAIC oversees, to perform ministerial
functions, including the collection of fees related to producer licensing,
that the commissioner and the nongovernmental entity consider
appropriate.
subsection by completing an equivalent number of hours in
continuing legal education courses related to the business of title
insurance or any aspect of real property law.
(c) The following limited lines producers are not required to
complete continuing education courses to renew a license under this
chapter:
(1) A limited lines producer who is licensed without examination
under IC 27-1-15.6-18(1) or IC 27-1-15.6-18(2).
(2) A limited line credit insurance producer.
(c) (d) To satisfy the requirements of subsection (a) or (b), a
licensee may use only those credit hours earned in continuing
education courses completed by the licensee:
(1) after the effective date of the licensee's last renewal of a
license under this chapter; or
(2) if the licensee is renewing a license for the first time, after the
date on which the licensee was issued the license under this
chapter.
(d) (e) If an insurance producer receives qualification for a license
in more than one (1) line of authority under IC 27-1-15.6, the insurance
producer may not be required to complete a total of more than forty
(40) hours of credit in continuing education courses to renew the
license.
(e) (f) Except as provided in subsection (f), (g), a licensee may
receive credit only for completing continuing education courses that
have been approved by the commissioner under section 4 of this
chapter.
(f) (g) A licensee who teaches a course approved by the
commissioner under section 4 of this chapter shall receive continuing
education credit for teaching the course.
(g) (h) When a licensee renews a license issued under this chapter,
the licensee must submit:
(1) a continuing education statement t