IC 6-1.1-40-4: "New manufacturing equipment"

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).