2018 Indiana Code
TITLE 6. Taxation
ARTICLE 1.1. PROPERTY TAXES
CHAPTER 12. Assessed Value Deductions and Deduction Procedures
6-1.1-12-31. Deduction for coal conversion system; limitations
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.
(c) The deduction provided by this section applies only if the property owner:
(1) owns the property; or
(2) is buying the property under contract;
on the assessment date for which the deduction applies.
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; P.L.144-2008, SEC.31.