1. (a) As used in this section, "designating body" and "economic revitalization area" have the meanings set forth in IC 6-1.1-12.1-1 (as in effect before July 1, 1995).

2. (b) Notwithstanding any other law, a designating body's actions taken after February 1, 1991, and before July 1, 1995, in:

   1. (1) designating an economic revitalization area; or

   2. (2) approving a statement of benefits or making required findings of fact after the initiation of the:

      1. (A) redevelopment;
      2. (B) installation of new manufacturing equipment; or

      3. (C) rehabilitation;

         for which the person desires to claim a deduction under IC 6-1.1-12.1 ;

         are legalized and validated.

As added by P.L.220-2011, SEC.122.