Indiana Code 6-2.5-15-19. Continuing effect of specific transaction award certificate following transfer or sale of qualified data center
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Terms Used In Indiana Code 6-2.5-15-19
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- corporation: refers to the Indiana economic development corporation established under IC 5-28-3, unless context clearly denotes otherwise. See Indiana Code 6-2.5-15-1
- owner: means an entity holding fee title to a facility. See Indiana Code 6-2.5-15-8
- qualified data center: means one (1) or more buildings that:
Indiana Code 6-2.5-15-10
- qualified data center user: means an entity that is using qualified data center equipment. See Indiana Code 6-2.5-15-12
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
Sec. 19. Except as provided in section 18 of this chapter, if the corporation approves a qualified data center user’s application to receive a specific transaction award certificate and enters into an agreement with the qualified data center user for a specific transaction award certificate, the corporation‘s certification of the qualified data center remains in effect, even if there is a future transfer, sale, or disposition, directly or indirectly, of the qualified data center. A subsequent owner shall enter into an agreement with the corporation before the subsequent owner is entitled to receive a specific transaction award certificate for the remainder of the eligibility period.
As added by P.L.256-2019, SEC.2.