"Industrial facility" defined
Sec. 2. As used in this chapter, "industrial facility" means a
company's real property that:
(1) has been classified as industrial property under the rules of
the department of local government finance; and
(2) has a true tax value, as estimated by the department, of at
least twenty-five million dollars ($25,000,000) in a qualifying
county.
The term includes real property that is used under an agreement
under which the user exercises the beneficial rights of ownership for
the majority of a year. The term does not include real property
assessed under IC 6-1.1-8.
As added by P.L.151-2001, SEC.3. Amended by P.L.90-2002,
SEC.89.
Last modified: May 28, 2006