Property held in foreign trade zone
Sec. 30.5. (a) Subject to the limitations contained in subsection
(b), tangible personal property is exempt from property taxation, if:
(1) the property is held, on the assessment date, in a foreign
trade zone established under 19 U.S.C. 81; and
(2) the property was either imported into the foreign trade zone
from a foreign country or was placed in the foreign trade zone
exclusively for export to a foreign country.
(b) An exemption provided by this section applies only to the
extent that the property is exempt from taxation under the commerce
clause of the Constitution of the United States.
As added by Acts 1978, P.L.29, SEC.2.
Last modified: May 28, 2006