Effective 1-1-2020.
Sec. 6. As used in this chapter, "qualified redevelopment site" means:
(1) land on which a vacant building or complex of buildings was placed in service at least fifteen (15) years before the date on which the application is filed with the corporation under this chapter;
(2) land on which a vacant building or complex of buildings:
(A) was placed in service at least fifteen (15) years before the date on which the demolition of the vacant building or complex of buildings was completed; and
(B) that was demolished in an effort to protect the health, safety, and welfare of the community;
(3) land on which a vacant building or complex of buildings:
(A) was placed in service at least fifteen (15) years before the date on which the demolition of the vacant building or complex of buildings was completed;
(B) was placed in service as a public building;
(C) was owned by a unit of local government; and
(D) has not been redeveloped since the building was taken out of service as a public building;
(4) vacant land; or
(5) brownfields consisting of more than fifty (50) acres.
For a complex of buildings to be considered a qualified redevelopment site under subdivision (1), (2) or (3), the buildings must have been located on a single parcel or contiguous parcels of land that were under common ownership at the time the site was placed in service.
As added by P.L.158-2019, SEC.29.
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