Indiana Code Title 6. Taxation § 6-1.1-8-16

Sec. 16.  (a) The fixed property of a tunnel company consists of real property which is not part of a right-of-way of the company.  The remainder of the tunnel company's property is distributable property.

(b) A tunnel company's definite-situs distributable property consists of the company's tunnels and rights-of-way.

(c) A tunnel company's property which is not described in subsection (a) or (b) is indefinite-situs distributable property.  The department of local government finance shall apportion and distribute the assessed valuation of this property among the taxing districts in which the company has property that is described in either subsection (a) or (b).  The amount which the department of local government finance shall distribute to a taxing district equals the product of (1) the total assessed valuation of the tunnel company's indefinite-situs distributable property, multiplied by (2) a fraction, the numerator of which is the value of the company's property which is located in the taxing district and which is described in either subsection (a) or (b), and the denominator of which is the value of the company's property which is located in this state and which is described in either subsection (a) or (b).