Sec. 20. Notwithstanding IC 6-1.1-10-4, after a land bank acquires title to a parcel of real property, the property tax exemption provided under IC 6-1.1-10-4 terminates for the parcel of real property on the final day of the first uninterrupted forty-eight (48) month period for which the land bank has leased, or offered to lease, all or part of the parcel of real property to one (1) or more tenants.
As added by P.L.211-2016, SEC.1.
Structure Indiana Code
Article 7. Planning and Development
36-7-38-2. Establishment of a Land Bank
36-7-38-4.5. Boards of Land Banks Made Up of Two or More Eligible Units
36-7-38-5. Boards of County Land Banks; Counties Not Having a Consolidated City
36-7-38-6. Boards of County Land Banks; a County Having a Consolidated City
36-7-38-7. Boards of Land Banks of Second Class Cities
36-7-38-7.5. Boards of Land Banks of Third Class Cities
36-7-38-11. Interlocal Agreements
36-7-38-12. Relation to the Unsafe Building Law
36-7-38-13. Startup Inventory of Properties
36-7-38-14. Agreements With Purchasers, Lessees, and Other Transferees
36-7-38-15. Usual Procedures for Disposition of Property Not Applicable
36-7-38-16. Prohibited Buyers; Delinquent Taxpayers
36-7-38-17. Prohibited Buyers; Unauthorized Foreign Business Associations
36-7-38-19. Exemption From Income Taxation
36-7-38-20. Limitation on Property Tax Exemption for Leased Property
36-7-38-23. Immunity From Civil Liability; Certain Environmental Damage