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Friday, December 04, 2009
Ind. Law - More on "Surprises" in the 2009 budget continue to be revealed
Wasn't it just Tuesday that the ILB posted this entry on yet another surprise that has been hidden in the 2009 budget bill.
Today's issue of Indiana Legislative Insight (subscription only, reprinted with permission) reports on yet another:
Our sister newsletter, INDIANA GAMING INSIGHT, also reported about a budget bill provision, apparently inserted at the behest of the Department of Revenue, that would bar a cash refund of anything Revenue might owe to some out-ofstate individuals who formerly held a stake in an Indiana casino, and were pursuing a refund in the Indiana Tax Court. Because the facts and circumstances were virtually identical to another recent Tax Court ruling against Revenue in an appeal involving the same casino, a refund was looking likely until a provision appeared in the special session budget bill that would effectively prohibit these individuals from any recovery, because a refund above $5,000 would have to come in the form of a credit against future taxes . . . but, because these individuals now live in Florida, are out of the casino business, and have no Indiana income, that would effectively mean they would have no ability to get any monies owed to them by the State of Indiana, assert Barnes & Thornburg attorneys Peter Rusthoven and Larry Stroble in a revised appeal petition questioning the constitutionality of the budget bill provision.And there are more... A story is coming, perhaps next week.
Posted by Marcia Oddi on December 4, 2009 01:48 PM
Posted to Indiana Law