Authority: IC 6-1.1-8-42; IC 6-1.1-31-1

Affected: IC 6-1.1-8-26

Sec. 3. The cost of nondepreciable property as computed under section 2 of this rule must be reported at the tax basis of such property as defined in Section 1012 of the Internal Revenue Code of 1986.

(Department of Local Government Finance; 50 IAC 5.1-7-3; filed Dec 15, 1993, 5:00 p.m.: 17 IR 963; reinstated by IC 6-1.1-8-44, eff Jul 1, 2003; readopted filed Oct 21, 2025, 9:19 a.m.: 20251112-IR-050240632RFA)