"Applicable percentage" defined
Sec. 1. As used in this chapter, "applicable percentage" means the
percentage determined as follows:
(1) If a building that is located on a military base 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 building that is located on a military base 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 building that is located on a military base 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 building 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 a military base recovery site
under this chapter.
As added by P.L.125-1998, SEC.2.
Last modified: May 28, 2006