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.
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