Entitlement to credit
Sec. 5. Subject to section 9 of this chapter, a person is entitled to
a credit against the person's state tax liability in a taxable year for a
percentage of the ad valorem property taxes, excluding interest and
penalties, paid by the taxpayer in the taxable year for the following:
(1) Real property on which a facility that processes rerefined
lubrication oil is located.
(2) Personal property used in the processing of rerefined
lubrication oil, including personal property used in the
transportation of rerefined lubrication oil to and from the
processing facility.
As added by P.L.291-2001, SEC.149.
Last modified: May 28, 2006