Sec. 0.4. (a) As used in this section, “board” refers to the enterprise zone board established by IC 4-4-6.1-1 (before its repeal).

     (b) A zone business that:

(1) submitted to the board, on a form prescribed by the board, a verified summary concerning the amount of tax credits and exemptions claimed by the business in the preceding year; and

(2) tendered payment of the amount specified in IC 4-4-6.1-2(4)(A) (before its repeal) to the board;

in compliance with IC 4-4-6.1-2.5(a) (before its repeal and as effective June 1, 1995) after May 31, 1995, and before June 16, 1995, shall be treated for the purposes of IC 4-4-6.1-2.5 (before its repeal and as effective June 1, 1995), as if the zone business had complied with IC 4-4-6.1-2.5 (before its repeal and as effective June 1, 1995) before June 1, 1995.

     (c) An official of the state or a political subdivision is authorized to take the actions necessary to:

(1) reinstate the credits and exemptions that would have been waived without this section;

(2) reinstate, effective retroactively to May 31, 1995, a business that is described by this section as a zone business without requiring the business to petition for readmission or to pay any civil penalties; and

(3) refund any civil penalties paid under IC 4-4-6.1-2.5 (before its repeal), as effective June 1, 1995.

     (d) Notwithstanding any other statute or rule, a payment or fee that is required from a zone business identified in subsection (b) to qualify the zone business for the credits and exemptions that would have been waived without this section may be paid by the zone business before June 1, 1996.

As added by P.L.220-2011, SEC.110.