"New personal property"

Sec. 4. As used in this chapter, "new personal property" means business personal property that: (1) a taxpayer places in service after the later of the date the exemption ordinance is adopted or a date specified in the exemption ordinance; and (2) has not previously been used in Indiana before the taxpayer acquires the business personal property. As added by P.L.80-2014, SEC.2.