Exemption of lessor corporation property from taxes

Ind. Code § 20-47-3-15
in effect
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Sec. 15. School buildings leased by a lessor corporation entering into a lease with a school corporation, school corporations, or the public education corporation under this chapter are exempt from all state, county, and other taxes. However, the rental payments to a lessor corporation under the terms of such a lease are subject to all applicable taxes under Indiana law. [Pre-2006 Recodification Citation: 21-5-12-10.] As added by P.L.2-2006, SEC.170. Amended by P.L.101-2026, SEC.53.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/20Fetched: 10/17/2026