Sec. 3. (a) A bridge, including the tangible property appurtenant to it, is exempt from property taxation if: (1) the bridge is constructed: (A) entirely within this state and across a navigable stream; or (B) across a stream forming a boundary of this state; (2) the bridge is owned by a state or a political subdivision of a state; and (3) the bridge: (A) is (except as provided in subsection (b) of this section) operated free of tolls; or (B) was authorized or consented to by an act of Congress. (b) The exemption provided in this section may not be denied because tolls are charged if the tolls are levied: (1) to establish a sinking fund for the cost, including interest and other financing charges, of the bridge and its approaches; or (2) to provide for the proper maintenance, repair, and operation of the bridge and its approaches. [Pre-1975 Property Tax Recodification Citation: 6-1-14-1.] Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.42-2011, SEC.5.
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