20151223-IR-050150166EIA Economic Impact Statement LSA Document #15-166

TITLE 50 DEPARTMENT OF LOCAL GOVERNMENT FINANCE

Economic Impact Statement LSA Document #15-166

IC 4-22-2.1-5 Statement Concerning Rules Affecting Small Businesses

Description of Rulemaking

The Department of Local Government Finance (Department) proposes a rule that adds, amends, and repeals provisions in 50 IAC 16 concerning the filing and processing of amended personal property tax returns. The proposed rule will simply bring the Department's rules on this matter into conformity with existing state law. Statutory authority: IC 6-1.1-3-7.5.

Estimated Number of Small Businesses Impacted by this Rule:

The Department estimates that no small businesses will be impacted by this rule. The rule itself is "business neutral" in that it should have no direct or indirect effect on business.

Estimated Average Annual Administrative Costs That Small Businesses Will Incur:

The Department estimates that no small businesses will incur additional administrative expenses resulting from this rule because no reporting or filing requirements will be added by the proposed rule that are not already in existing law.

Estimated Total Annual Economic Impact on Small Businesses:

The Department estimates that there will be no financial impact on small businesses as a result of this rule. Small businesses will have no additional responsibilities because of this rule.

Supporting Data, Studies, and Analyses: Because no financial impact is expected as a result of this rule, no supporting data, studies, or analyses were relied upon by the agency in its determination.

Justification of Requirement or Cost:

IC 6-1.1-3-7.5 requires the Department to adopt rules for the filing and processing of amended personal property tax returns. This rule amends the Department's rules to bring them into accord with existing law, which has been amended since the rules were introduced.

Regulatory Flexibility Analysis of Alternative Methods:

The Department has been unable to identify viable alternatives to implementing rules concerning the filing and processing of amended personal property tax returns as such actions require the force and permanency of law. Moreover, IC 6-1.1-3-7.5 requires the Department to implement rules concerning these matters.

Supporting Data, Studies, and Analyses: Because of the nature of the rule, no supporting data, studies, or analyses were conducted.

Posted: 12/23/2015 by Legislative Services Agency

DIN: 20151223-IR-050150166EIA

Composed: Nov 01,2016 2:07:18AM EDT

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