The Indiana House unanimously passed House Bill 1005 on Tuesday. House Bill 1005 contains changes to what is commonly known as the “Dinosaur Building Law”.
Under existing law, a party that acquires an older industrial building that is at least 20 years old, that has been at least 75% vacant for at least two years and is at least 200,000 square feet, is entitled to tax credits for the rehabilitation made to such a building.
