Sec. 19. (a) The acquisition, establishment, construction, improvement, equipment, maintenance, control, and operation of airports and landing fields for aircraft under this chapter is a governmental function of general public necessity and benefit, and is for the use and general welfare of all the people of the state.

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 8-21-12-19

  • aircraft: means a vehicle used or designed for navigation or flight in the air. See Indiana Code 8-21-12-1
  • authority: refers to the Indiana finance authority established by Indiana Code 8-21-12-3
  • aviation related property or facilities: means those properties or facilities that are utilized by a lessee, or a lessee's assigns, who provides services or accommodations:

    Indiana Code 8-21-12-4

  • 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
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Statute: A law passed by a legislature.
     (b) Notwithstanding any other statute, the leasehold estate of any lessee created pursuant to a lease by the authority of the authority’s aviation related property or facilities, together with any permanent structure erected on the property by the lessee is exempt from property taxation.

As added by P.L.28-1991, SEC.2.

  Previous section
Next section  
 Chapter 12 Contents