Sec. 4. As used in this chapter, "new manufacturing equipment" means any tangible personal property that an applicant for the deduction under section 11 of this chapter:
(1) installs in a district before July 1, 2018;
(2) uses in the direct production, manufacture, fabrication, assembly, extraction, mining, processing, refining, or finishing of other tangible personal property;
(3) acquires in an arms length transaction from an entity that is not an affiliate of the applicant for use as described in subdivision (2); and
(4) never used for any purpose in Indiana before the installation described in subdivision (1).
As added by P.L.62-1988, SEC.1. Amended by P.L.154-2006, SEC.58; P.L.212-2018(ss), SEC.14.