Indiana Code 14-13-2-28. Tax exemptions

Sec. 28. (a) The commission is not required to pay any taxes or assessments upon any of the following:

(1) A project of the commission.

commission: refers to the Little Calumet River basin development commission created by this chapter. See Indiana Code 14-13-2-2
Property: includes personal and real property. See Indiana Code 1-1-4-5

(2) A facility, a betterment, or an improvement within a project.

(3) Property acquired or used by the commission under this chapter or under IC 14-6-29.5 (before its repeal).

(4) The income or revenue from the property.

(b) The:

(1) bonds issued under this chapter or under IC 14-6-29.5 (before its repeal);

(2) interest on the bonds;

(3) proceeds received by a holder from the sale of the bonds to the extent of the holder’s cost of acquisition;

(4) proceeds received upon redemption before maturity or proceeds received at maturity; and

(5) receipt of interest and proceeds;

are exempt from taxation in Indiana for all purposes except the financial institutions tax imposed under IC 6-5.5.

[Pre-1995 Recodification Citation: 14-6-29.5-10 part.]

As added by P.L.1-1995, SEC.6. Amended by P.L.254-1997(ss), SEC.20; P.L.79-2017, SEC.62.