§ 8-15.5-8-1.5 — Property tax exemption; projects involving an adjacent state or commonwealth

Indiana § 8-15.5-8-1.5

• Jurisdiction: Indiana
• Art. 15.5: PUBLIC-PRIVATE AGREEMENTS FOR TOLL
• Ch. 8: Taxation of Operators

Text

5. Notwithstanding IC 5-1.2-9-27, or any
other law, any interest in a project, including all tangible personal
property used exclusively in connection with a project, that is:
(1) owned by:
(A) the authority;
(B) an adjacent state or commonwealth; or
(C) a political subdivision or instrumentality of an adjacent
state or commonwealth; and
(2) acquired, constructed, or otherwise provided in connection
with a project by:
(A) an operator;
(B) an adjacent state or commonwealth; or
(C) a political subdivision or instrumentality of an adjacent
state or commonwealth;
is considered to be public property devoted to an essential public and
governmental function and purpose. This property, and a leasehold
estate, franchise, license, or other interests in the property, is exempt
from all ad valorem property taxes and special assessments levied
against property by the state or any political subdivision of the state.

Legislative History

As added by P.L.91-2014, SEC.31. Amended by P.L.189-2018, SEC.94.