Indiana Code 36-1-10-18. Tax exemption of leased structures, systems, and transportation projects; taxation of rental paid lessor
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Terms Used In Indiana Code 36-1-10-18
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Sec. 18. Structures, transportation projects, and systems leased by a lessor contracting with the political subdivision or agency under this chapter are exempt from all state, county, and other taxes. However, the rental paid to a lessor under the terms of a lease is subject to taxation.
[Pre-Local Government Recodification Citation: 18-5-3.3-10.]
As added by Acts 1981, P.L.57, SEC.36. Amended by P.L.37-1988, SEC.19; P.L.343-1989(ss), SEC.21.