Real property
Sec. 16.7. All or part of real property is exempt from property
taxation if:
(1) the improvements on the real property were constructed,
rehabilitated, or acquired for the purpose of providing housing
to income eligible persons under the federal low income
housing tax credit program under 26 U.S.C. 42;
(2) the real property is subject to an extended use agreement
under 26 U.S.C. 42 as administered by the Indiana housing
finance authority; and
(3) the owner of the property has entered into an agreement to
make payments in lieu of taxes under IC 36-1-8-14.2,
IC 36-2-6-22, or IC 36-3-2-11.
As added by P.L.19-2000, SEC.1. Amended by P.L.185-2001, SEC.1
and P.L.291-2001, SEC.195; P.L.186-2001, SEC.2; P.L.1-2002,
SEC.18; P.L.179-2002, SEC.3.
Last modified: May 28, 2006