LegalFix
Sign In

14-13-2-28. Tax exemptions

IN Code § 14-13-2-28 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

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.

(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.

Previous Section
14-13-2-27. Public purpose
Next Section
14-13-2-29. Little Calumet River basin