CHAPTER 12.2. DEDUCTION FOR AIRCRAFT

IC 6-1.1-12.2
    Chapter 12.2. Deduction for Aircraft

IC 6-1.1-12.2-1
Application of chapter
    Sec. 1. This chapter applies only to the following:
        (1) Aircraft that:
            (A) have a seating capacity of not more than ninety (90)passengers;
            (B) are used in the air transportation of passengers orpassengers and property; and
            (C) are owned or operated by a person who is:
                (i) an air carrier certificated under Federal Air RegulationPart 121; or
                (ii) a scheduled air taxi operator certified under FederalAir Regulation Part 135.
        (2) Aircraft that:
            (A) are used to transport only property, regardless ofwhether the aircraft is operated as a common carrier forcompensation; and
            (B) are owned or operated by a person who is:
                (i) an air carrier certificated under Federal Air RegulationPart 121; or
                (ii) a scheduled air taxi operator certified under FederalAir Regulation Part 135.
As added by P.L.224-2003, SEC.180.

IC 6-1.1-12.2-2
"Abatement property"
    Sec. 2. As used in this chapter "abatement property" refers toaircraft described in section 1 of this chapter.
As added by P.L.224-2003, SEC.180.

IC 6-1.1-12.2-3
"Aircraft"
    Sec. 3. As used in this chapter, "aircraft" has the meaning set forthin 49 U.S.C. 40102.
As added by P.L.224-2003, SEC.180.

IC 6-1.1-12.2-4
"Air transportation"
    Sec. 4. As used in this chapter, "air transportation" meanstransportation of passengers or property by aircraft as a commoncarrier for compensation.
As added by P.L.224-2003, SEC.180.

IC 6-1.1-12.2-5
"Business entity"
    Sec. 5. As used in this chapter, "business entity" refers to acorporation (as defined in IC 6-3-1-10) or partnership (as defined in

IC 6-3-1-19).
As added by P.L.224-2003, SEC.180.

IC 6-1.1-12.2-6
"Indiana corporate headquarters"
    Sec. 6. As used in this chapter, "Indiana corporate headquarters"means a physical presence in Indiana of a domestic business entitythat results in Indiana being the regular or principal place of businessof its chief executive, operating, and financial officers.
As added by P.L.224-2003, SEC.180.

IC 6-1.1-12.2-7
"Subsidiary"
    Sec. 7. As used in this chapter, "subsidiary" means a businessentity in which another business entity with an Indiana corporateheadquarters has at least an eighty percent (80%) ownership interest.
As added by P.L.224-2003, SEC.180.

IC 6-1.1-12.2-8
"Taxpayer"
    Sec. 8. As used in this chapter, "taxpayer" means a business entitythat:
        (1) has an Indiana corporate headquarters; or
        (2) is a subsidiary of a business entity with an Indiana corporateheadquarters;
and that is liable under IC 6-1.1-2-4, as applied under IC 6-1.1-3 orIC 6-1.1-8, for ad valorem property taxes on abatement property.
As added by P.L.224-2003, SEC.180.

IC 6-1.1-12.2-9
Deduction
    Sec. 9. A taxpayer is entitled to a deduction from the assessedvalue of abatement property in each year in which the abatementproperty is subject to taxation for ad valorem property taxes.
As added by P.L.224-2003, SEC.180.

IC 6-1.1-12.2-10
Deduction amount
    Sec. 10. The amount of the deduction is equal to one hundredpercent (100%) of the assessed value of the abatement property.
As added by P.L.224-2003, SEC.180.

IC 6-1.1-12.2-11
Deduction includes property taxes
    Sec. 11. The deduction includes ad valorem property taxescalculated using aircraft ground times.
As added by P.L.224-2003, SEC.180.

IC 6-1.1-12.2-12
Qualification for deduction    Sec. 12. To qualify for the deduction, the taxpayer must claim thededuction, in the manner prescribed by the department of localgovernment finance, on the taxpayer's personal property tax returnfiled under IC 6-1.1-3 or IC 6-1.1-8 (or an amended return filedwithin the time allowed under this article) for the abated property towhich the deduction applies.
As added by P.L.224-2003, SEC.180.