Sec. 42. (a) A corporation that is: (1) nonprofit; and (2) participates in the small business incubator program under IC 5-28-21; is exempt from property taxation to the extent of tangible property used for small business incubation. (b) A corporation that wishes to obtain an exemption from property taxation under this section must file an exemption application under IC 6-1.1-11. As added by P.L.178-2002, SEC.14. Amended by P.L.4-2005, SEC.35.
Small business incubator program
Ind. Code § 6-1.1-10-42, under Chapter 10. Exemptions.
Ind. Code § 6-1.1-10-42