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2024 Indiana Code
Title 21. Higher Education
Article 31. State Educational Institutions: Acquisition and Use of Property; Leases
Chapter 4. Leases
21-31-4-3. Application of Section; Tax Exemption

Universal Citation:
IN Code § 21-31-4-3 (2024)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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Sec. 3. (a) This section applies to the board of trustees of the following state educational institutions:

(1) Ball State University.

(2) Indiana University.

(3) Indiana State University.

(4) Purdue University.

(5) University of Southern Indiana.

(b) This chapter does not deny any tax exemption that a lessee would have under other laws if the lessee were the owner in fee simple of the real estate.

(c) A state educational institution is exempt from all property taxes on any real estate leased under this chapter. The lessee of real estate leased under this chapter is liable for property taxes on the leased real estate as if the real estate were owned by the lessee in fee simple, unless the lessee is a student living in facilities owned by the state educational institution.

[Pre-2007 Higher Education Recodification Citations: 20-12-1-2(c); 20-12-1-2(b) part.]

As added by P.L.2-2007, SEC.272.

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