Property of exempt organization used in nonexempt trade or
business
Sec. 36.5. (a) Tangible property is not exempt from property
taxation under sections 16 through 28 of this chapter or under section
33 of this chapter if it is used by the exempt organization in a trade
or business, not substantially related to the exercise or performance
of the organization's exempt purpose.
(b) Property referred to in sections 16 through 28 of this chapter
or under section 33 of this chapter shall be assessed to the extent
required under IC 6-1.1-11-9.
(c) The department of local government finance shall adopt rules
under IC 4-22-2 to carry out this section.
As added by Acts 1978, P.L.32, SEC.1. Amended by P.L.198-2001,
SEC.31.
Last modified: May 28, 2006