IC 6-1.1-8.7-2: "Industrial facility"

Sec. 2. As used in this chapter, "industrial facility" means a company's real property that:

(1) has been classified as industrial property under the rules of the department; and

(2) has a true tax value, as estimated by the department, of at least thirty-five million dollars ($35,000,000) in a county.

The term includes real property that is used under an agreement under which the user exercises the beneficial rights of ownership for the majority of a year. The term does not include real property assessed under IC 6-1.1-8.