IC 6-2.5-5-14: Public utilities; acquisitions of personal property

Sec. 14. (a) Transactions involving tangible personal property are exempt from the state gross retail tax if the person acquiring the property is:

(1) a municipally owned utility;

(2) a utility owned or operated by a special district; or

(3) a public utility owned or operated by a not-for-profit corporation incorporated under:

(A) the Indiana General Not for Profit Corporation Act (Acts 1935, Chapter 157, as amended), notwithstanding its repeal;

(B) the Indiana Not-for-Profit Corporation Act of 1971 (IC 23-7-1.1), notwithstanding its repeal; or

(C) IC 23-17.

(b) The term "public utility owned or operated by a not-for-profit corporation" does not include those public utilities incorporated under Acts 1935, chapter 157, as amended, and which are owned or operated by local district rural electric membership corporations.