Indiana § 6-1.1-10-16.7 Real property exemption; expiration

Indiana Statutes

§ 6-1.1-10-16.7 — Real property exemption; expiration

Indiana § 6-1.1-10-16.7

Art. 1.1PROPERTY TAXES

Ch. 10Exemptions

This text of Indiana § 6-1.1-10-16.7 (Real property exemption; expiration) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-1.1-10-16.7 (2026).

Text

7.

(a)Except as otherwise provided in this section, for assessment dates after December 31, 2021, all or part of real property is exempt from property taxation if:

(1)the improvements on the real property were constructed, rehabilitated, or acquired for the purpose of providing housing to income eligible persons under the federal low income housing tax credit program under 26 U.S.C. 42;

(2)the real property is subject to an extended use agreement under 26 U.S.C. 42 as administered by the Indiana housing and community development authority; and

(3)the owner of the property has entered into an agreement to make payments in lieu of taxes under IC 36-1-8-14.2 (before its expiration), IC 36-2-6-22 (before its expiration), IC 36-3-2-11 (before its expiration), IC 36-1-8-14.3, IC 36-2-6-23, o

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7. (a) Except as otherwise provided in this
section, for assessment dates after December 31, 2021, all or part of
real property is exempt from property taxation if:
(1) the improvements on the real property were constructed,
rehabilitated, or acquired for the purpose of providing housing to
income eligible persons under the federal low income housing tax
credit program under 26 U.S.C. 42;
(2) the real property is subject to an extended use agreement
under 26 U.S.C. 42 as administered by the Indiana housing and
community development authority; and
(3) the owner of the property has entered into an agreement to
make payments in lieu of taxes under IC 36-1-8-14.2 (before its
expiration), IC 36-2-6-22 (before its expiration), IC 36-3-2-11
(before its expiration), IC 36-1-8-14.3, IC 36-2-6-23, or IC 36-3-2-12.
(b) This section may not be construed in such a way as to:
(1) alter the terms of an agreement with the holders of any
outstanding notes, bonds, or other obligations of an issuing body;
(2) authorize the issuing body to alter the terms of an agreement
described in subdivision (1); or
(3) impair, or authorize the issuing body to impair, the rights and
remedies of any creditor of the issuing body.

Legislative History

As added by P.L.19-2000, SEC.1. Amended by P.L.185-2001, SEC.1 and P.L.291-2001, SEC.195; P.L.186-2001, SEC.2; P.L.1-2002, SEC.18; P.L.179-2002, SEC.3; P.L.1-2006, SEC.133 and P.L.181-2006, SEC.42; P.L.181-2016, SEC.3; P.L.74-2021, SEC.2.