Note: This version of section effective until 1-1-2020. See also following repeal of this chapter, effective 1-1-2020.

1. (1) one hundred percent (100%) of the assessed value of the abatement property; multiplied by

2. (2) with respect to the ground time determined for purposes of calculating ad valorem property taxes for the aircraft, the quotient of:

   1. (A) the ground time that immediately precedes a flight to an Indiana destination; divided by
   2. (B) the total ground time.

Sec. 14. The deduction applies to ad valorem property taxes calculated using aircraft ground times. The amount of a deduction available under section 12 or 13 of this chapter is equal to the product of:

As added by P.L.224-2003, SEC.279.