Indiana Code 8-3-1.5-16. Delinquent state railroad taxes; offset against purchase cost
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Indiana Code 8-3-1.5-16
- Department: refers to the Indiana department of transportation established under IC 8-23-2-1. See Indiana Code 8-3-1.5-1
- Rail properties: means assets or rights, owned, leased, or otherwise controlled by a railroad or other persons which are used, or useful, in rail transportation service; however, the term rail properties does not include any properties owned, leased or otherwise controlled by a railroad not in reorganization unless it consents to such property's inclusion in the particular transaction. See Indiana Code 8-3-1.5-1
Sec. 16. In addition to any other funds available to carry out the purposes of this chapter, there are appropriated, and the department may utilize, any delinquent state taxes from any railroad entity, and the interest due on taxes to the date of acquisition, as an offset against the purchase cost of any rail properties purchased from that railroad entity.
Formerly: Acts 1975, P.L.79, SEC.1. As amended by Acts 1980, P.L.74, SEC.55.