"Applicable percentage" defined
Sec. 1. As used in this chapter, "applicable percentage" means the
percentage determined as follows:
(1) If a plant that is located on an industrial recovery site was
placed in service at least twenty (20) years ago but less than
thirty (30) years ago, the applicable percentage is fifteen
percent (15%).
(2) If a plant that is located on an industrial recovery site was
placed in service at least thirty (30) years ago but less than forty
(40) years ago, the applicable percentage is twenty percent
(20%).
(3) If a plant that is located on an industrial recovery site was
placed in service at least forty (40) years ago, the applicable
percentage is twenty-five percent (25%).
The time that has expired since a plant was placed in service shall be
determined as of the date that an application is filed with the board
for designation of the location as an industrial recovery site under
this chapter.
As added by P.L.379-1987(ss), SEC.11.
Last modified: May 28, 2006