Gas utilities; production or storage plants and expenses
Sec. 11. Transactions involving tangible personal property are
exempt from the state gross retail tax, if:
(1) the property is classified as production plant, storage plant,
production expenses, or underground storage expenses
according to the uniform system of accounts, which was
adopted and prescribed for the utility by the Indiana utility
regulatory commission; and
(2) the person acquiring the property is a public utility that
furnishes or sells natural or artificial gas in a retail transaction
described in IC 6-2.5-4-5.
As added by Acts 1980, P.L.52, SEC.1. Amended by P.L.23-1988,
SEC.9; P.L.71-1993, SEC.7.
Last modified: May 28, 2006