Sec. 7. Transactions involving tangible personal property are exempt from the state gross retail tax if:
(1) the person acquiring the property is in the construction business;
(2) the person acquiring the property acquires it for incorporation as a material or integral part of a public street or of a public water, sewage, or other utility service;
(3) the public street or public utility service into which the property is to be incorporated is required under a subdivision plat, approved and accepted by the appropriate Indiana political subdivision; and
(4) the public street or public utility is to be publicly maintained after its completion.
As added by Acts 1980, P.L.52, SEC.1.
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