Sec. 7. A local income tax council may repeal or amend an exemption ordinance. However, if a local income tax council repeals or amends an exemption ordinance, any new personal property that was exempt under the exemption ordinance on the date the new personal property was placed into service by a taxpayer remains exempt from property taxation, regardless of whether or not the ownership of the new personal property changes after the date the exemption ordinance is amended or repealed.
As added by P.L.80-2014, SEC.2. Amended by P.L.197-2016, SEC.11.
Structure Indiana Code
Chapter 10.3. County Option Exemption of Business Personal Property
6-1.1-10.3-1. "Business Personal Property"
6-1.1-10.3-2. "Local Income Tax Council"
6-1.1-10.3-3. "Exemption Ordinance"
6-1.1-10.3-4. "New Personal Property"
6-1.1-10.3-5. Adoption of Exemption Ordinance by Local Income Tax Council
6-1.1-10.3-6. Application of Exemption Ordinance to All New Personal Property