Sec. 21. Property owned by a lessor corporation entering into a lease with a school corporation or corporations under this chapter, and all stock and other securities (including the interest or dividends) issued by a lessor corporation, are exempt from all state, county, and other taxes, except the financial institutions tax (IC 6-5.5).
[Pre-2006 Recodification Citation: 21-5-11-14.]
As added by P.L.2-2006, SEC.170. Amended by P.L.79-2017, SEC.67.
Structure Indiana Code
Article 47. Related Entities; Holding Companies; Lease Agreements
Chapter 2. Public Holding Companies
20-47-2-2. "Capital Actually Invested"
20-47-2-3. "Lessor Corporation"
20-47-2-5. Powers; Lease of School Building
20-47-2-7. Required Terms of Lease Agreement
20-47-2-8. Lessor Corporation; Submission of Preliminary Plans
20-47-2-9. Permissible Provisions of Lease; Payment of Taxes; Insurance
20-47-2-10. Lease Preceding Acquisition of Land
20-47-2-11. Required Public Hearing; Notice of Lease Terms
20-47-2-12. Conduct of Public Hearing; Lease Authorization Procedures
20-47-2-13. Notice of Signing of Lease; Appeal
20-47-2-14. Limitation on Time to File Appeal
20-47-2-15. Acquisition of Land for Building Site; Sale to Lessor Corporation
20-47-2-16. Lessor Corporation; Sale of Bonds and Securities; Mortgage Bonds
20-47-2-17. Refunding of Outstanding Bonds; Appeal
20-47-2-19. Option to Purchase; Bonds to Fund Purchase
20-47-2-20. Required Levy; Payment of Obligations
20-47-2-21. Exemption of Lessor Corporation Property From Taxes
20-47-2-23. Termination of Lease; Disposition of Surplus Revenues