Sec. 4. As used in this chapter, "new manufacturing equipment" means any tangible personal property that an applicant for the deduction under section 11 of this chapter: (1) installs in a district before July 1, 2018; (2) uses in the direct production, manufacture, fabrication, assembly, extraction, mining, processing, refining, or finishing of other tangible personal property; (3) acquires in an arms length transaction from an entity that is not an affiliate of the applicant for use as described in subdivision (2); and (4) never used for any purpose in Indiana before the installation described in subdivision (1).
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