Indiana § 6-3.1-11-8 "Placed in service"

Indiana Statutes

§ 6-3.1-11-8 — "Placed in service"

Indiana § 6-3.1-11-8

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 11Industrial Recovery Tax Credit

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Bluebook

Ind. Code § 6-3.1-11-8 (2026).

Text

As used in this chapter, "placed in service"
means that property is placed in a condition or state of readiness and
availability for a specifically assigned function. In the case of a plant
comprised of a complex of buildings, the entire plant shall be
considered to have been placed in service as of the date that a building
was placed in service if the building has floor space that, when
aggregated with the floor space of all buildings in the complex placed
in service on earlier dates, exceeds fifty percent (50%) of the total floor
space of all buildings in the complex.

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As used in this chapter, "placed in service"
means that property is placed in a condition or state of readiness and
availability for a specifically assigned function. In the case of a plant
comprised of a complex of buildings, the entire plant shall be
considered to have been placed in service as of the date that a building
was placed in service if the building has floor space that, when
aggregated with the floor space of all buildings in the complex placed
in service on earlier dates, exceeds fifty percent (50%) of the total floor
space of all buildings in the complex.