Under IC 4-22-2-24, notice is hereby given that on October 30, 2009, at 11:00 a.m., at the Indiana Government Center North, 100 North Senate Avenue, Room N1058, Department of Local Government Finance Conference Room, Indianapolis, Indiana, the Department of Local Government Finance will hold a public hearing on a proposed rule to update and clarify many aspects of the assessment of tangible personal property.

The Department finds the rule necessary because the personal property rule was, for the most part, written in 1988 and reinstated effective 2003. Over the years, there have been some significant changes that have affected personal property, most notably, inventory became nontaxable. Thus, it is necessary to amend the rule to reflect the statutory changes and update terminology so as not to confuse the taxpaying public about the personal property tax requirements. Because no financial impact is expected as a result of this rule, no supporting data, studies, or analyses were relied upon by the Department in its determination that the rule will have no fiscal impact on state or local government. No revenues, appropriations, distributions, or expenditures will be required as a result of the rule. The rule will have no impact on small businesses.

Copies of the rule are available on the Department of Local Government Finance website at www.in.gov/dlgf.

Copies of these rules are now on file at the Indiana Government Center North, 100 North Senate Avenue, Room 1058 and Legislative Services Agency, One North Capitol, Suite 325, Indianapolis, Indiana and are open for public inspection.