1. (a) The commission is not required to pay any taxes or assessments upon any of the following:

   1. (1) A project of the commission.
   2. (2) A facility, betterment, or improvement within a project.
   3. (3) Property acquired or used by the commission under this chapter or IC 14-6-29 (before its repeal).
   4. (4) The income or revenue from the property.

2. (b) The:

   1. (1) bonds issued under this chapter or under IC 14-6-29 (before its repeal);
   2. (2) interest on the bonds;
   3. (3) proceeds received by a holder from the sale of the bonds to the extent of the holder's cost of acquisition;
   4. (4) proceeds received upon redemption before maturity or proceeds received at maturity; and

   5. (5) receipt of interest and proceeds;

      are exempt from taxation in Indiana for all purposes except the financial institutions tax imposed under IC 6-5.5 .

      [Pre-1995 Recodification Citation: 14-6-29-11 part.]

As added by P.L.1-1995, SEC.6. Amended by P.L.254-1997(ss), SEC.19; P.L.79-2017, SEC.61.