Sec. 28. (a) The commission is not required to pay any taxes or assessments upon any of the following: (1) A project of the commission. (2) A facility, a betterment, or an improvement within a project. (3) Property acquired or used by the commission under this chapter or under IC 14-6-29.5 (before its repeal). (4) The income or revenue from the property. (b) The: (1) bonds issued under this chapter or under IC 14-6-29.5 (before its repeal); (2) interest on the bonds; (3) proceeds received by a holder from the sale of the bonds to the extent of the holder's cost of acquisition; (4) proceeds received upon redemption before maturity or proceeds received at maturity; and (5) receipt of interest and proceeds; are exempt from taxation in Indiana for all purposes except the financial institutions tax imposed under IC 6-5.5 . [Pre-1995 Recodification Citation: 14-6-29.5-10 part.]
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