School bus bodies and chassis
Sec. 31.6. A school bus body and chassis are exempt from
personal property tax if the body and chassis:
(1) are not owned by the same person;
(2) are complete and ready to be attached to one another;
(3) are in the possession of a resident under an agreement
requiring the resident to ship the completed school bus to an
out-of-state purchaser; and
(4) are not held by the resident for resale or for shipment within
Indiana.
As added by P.L.57-1993, SEC.8.
Last modified: May 28, 2006