Indiana § 8-21-12-19 Airports and landing fields; establishment; tax exemption

Indiana Statutes

§ 8-21-12-19 — Airports and landing fields; establishment; tax exemption

Indiana·Art. 21 AERONAUTICS·Ch. 12 Airport Financing

(a)The acquisition, establishment, construction, improvement, equipment, maintenance, control, and operation of airports and landing fields for aircraft under this chapter is a governmental function of general public necessity and benefit, and is for the use and general welfare of all the people of the state.

(b)Notwithstanding any other statute, the leasehold estate of any lessee created pursuant to a lease by the authority of the authority's aviation related property or facilities, together with any permanent structure erected on the property by the lessee is exempt from property taxation.

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(a) The acquisition, establishment,
construction, improvement, equipment, maintenance, control, and
operation of airports and landing fields for aircraft under this chapter
is a governmental function of general public necessity and benefit, and
is for the use and general welfare of all the people of the state.
(b) Notwithstanding any other statute, the leasehold estate of any
lessee created pursuant to a lease by the authority of the authority's
aviation related property or facilities, together with any permanent
structure erected on the property by the lessee is exempt from property
taxation.

Indiana § 8-21-12-19 (Airports and landing fields; establishment; tax exemption) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.