Coal conversion system; definition; computation
Sec. 31. (a) For purposes of this section, "coal conversion system"
means tangible property directly used to convert coal into a gaseous
or liquid fuel or char. This definition includes coal liquification,
gasification, pyrolysis, and a fluid bed combustion system designed
for pollution control.
(b) For each calendar year which begins after December 31, 1979,
and before January 1, 1988, the owner of a coal conversion system
which is used to process coal is entitled to a deduction from the
assessed value of the system. The amount of the deduction for a
particular calendar year equals the product of (1) ninety-five percent
(95%) of the assessed value of the system, multiplied by (2) a
fraction. The numerator of the fraction is the amount of Indiana coal
converted by the system during the immediately preceding calendar
year and the denominator of the fraction is the total amount of coal
converted by the system during the immediately preceding calendar
year.
As added by Acts 1980, P.L.41, SEC.1. Amended by Acts 1981,
P.L.70, SEC.1; P.L.24-1984, SEC.4.
Last modified: May 28, 2006