Sec. 19. (a) The acquisition, establishment, construction, improvement, equipment, maintenance, control, and operation of airports and landing fields for aircraft under this chapter is a governmental function of general public necessity and benefit, and is for the use and general welfare of all the people of the state.
(b) Notwithstanding any other statute, the leasehold estate of any lessee created pursuant to a lease by the authority of the authority's aviation related property or facilities, together with any permanent structure erected on the property by the lessee is exempt from property taxation.
As added by P.L.28-1991, SEC.2.
Structure Indiana Code
Title 8. Utilities and Transportation
8-21-12-4. "Aviation Related Property or Facilities"
8-21-12-10.5. Applicability to the Authority
8-21-12-12. Recovery of Damages
8-21-12-13. Zoning Restrictions
8-21-12-14. Eminent Domain; Public Utility Property
8-21-12-15. Finances of Authority; Bonds
8-21-12-16. Loans to the Authority
8-21-12-17. Loan Contracts; Tax Exemptions
8-21-12-18. Officers and Employees; Bonds; Surety
8-21-12-19. Airports and Landing Fields; Establishment; Tax Exemption
8-21-12-20. Bonds; Issuance by Fiscal Bodies of Local Entities
8-21-12-21. Airports and Other Navigation Facilities; Receipt of Funds; Grants