§ 5-1.2-4-28 — Property; tax exemption

Indiana § 5-1.2-4-28

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.2: INDIANA FINANCE AUTHORITY
• Ch. 4: General Powers and Duties

Text

(a) Except as provided in subsection (b), all
property, both tangible and intangible, acquired or held by the authority
under the referenced statutes is declared to be public property used for
public and governmental purposes, and all the property and income
from the property is at all times exempt from all taxes imposed by this
state, any county, any city, or any other political subdivision of this
state, except for the financial institutions tax imposed under IC 6-5.5.
(b) Property owned by the authority and:
(1) leased to a person for an economic development project; or
(2) financed by a loan;
under IC 5-1.2-9 is not public property. The property and the economic
development project are subject to all taxes of this state or any county,
city, or other political subdivision of this state in the same manner and
subject to the same exemptions that apply to all persons.

Legislative History

As added by P.L.189-2018, SEC.25.