IC 6-1.1-10.3-4: "New personal property"

Sec. 4. As used in this chapter, "new personal property" means business personal property that:

(1) a taxpayer places in service after the later of the date the exemption ordinance is adopted or a date specified in the exemption ordinance; and

(2) has not previously been used in Indiana before the taxpayer acquires the business personal property.