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Current as of January 02, 2024 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - Indiana Code Title 14. Natural and Cultural Resources § 14-13-2-28 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-14-natural-and-cultural-resources/in-code-sect-14-13-2-28/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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