1. (a) This section applies to an exemption for:

   1. (1) an assessment date for property other than a mobile home assessed under IC 6-1.1-7 that occurs in a year that begins after December 31, 2015; and
   2. (2) an assessment date for a mobile home (including a manufactured home) assessed under IC 6-1.1-7 that occurs in a year that begins after December 31, 2016.

2. (b) An award of an exemption from property taxation for tangible property for a particular assessment date must be based on the tangible property's eligibility of the exemption on that assessment date. An act occurring after the assessment date, including a change in:

   1. (1) use, value, character, or ownership of the tangible property; or

   2. (2) the age, disability, or income of any owner, contract buyer, or possessor of tangible property;

      does not affect the eligibility of the tangible property for an exemption for that assessment date.

As added by P.L.111-2014, SEC.19.