School buildings leased by a lessor corporation entering into a lease with a school corporation, school corporations, or the public education corporation under this chapter are exempt from all state, county, and other taxes. However, the rental payments to a lessor corporation under the terms of such a lease are subject to all applicable taxes under Indiana law.

[Pre-2006 Recodification Citation: 21-5-12-10.]

As added by P.L.2-2006, SEC.170. Amended by P.L.101-2026, SEC.53.