Indiana § 8-15-2-12 - Taxation
Full text of Indiana Indiana Code § 8-15-2-12 — Taxation, with citation guidance and answers to common questions.
§ 8-15-2-12. Taxation
Sec. 12. (a) The exercise of the powers granted by this chapter will be in all respects for:
(1) the benefit of the people of the state;
(2) the increase of their commerce and prosperity; and
(3) the improvement of their health and living conditions.
(b) As the operation and maintenance of toll road projects by the authority will constitute the performance of essential governmental functions, the authority shall not be required to pay any taxes or assessments upon any toll road project or any property acquired or used by the authority under the provisions of this chapter or upon the income therefrom.
(c) The bonds issued under the provisions of this chapter, their transfer, and the income therefrom (including any profit made on the sale thereof) shall at all times be free from taxation within the state.
Formerly: Acts 1951, c.281, s.12. As amended by Acts 1980, P.L.74, SEC.238; P.L.109-1983, SEC.16.
Frequently Asked Questions About Indiana § 8-15-2-12
What does Indiana Code § 8-15-2-12 cover?
Section 8-15-2-12 ("Taxation") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 8-15-2-12?
A common citation format is "Indiana Code § 8-15-2-12" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 8-15-2-12 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.