(b) A pipe line company's property which is not described in subsection (a) is indefinite-situs distributable property. The department of local government finance shall apportion and distribute the assessed valuation of this property among the taxing districts in which the company's pipe lines are located. The amount which the department of local government finance shall distribute to a taxing district equals the product of (1) the total assessed valuation of the pipe line company's indefinite-situs distributable property, multiplied by (2) a fraction, the numerator of which is the length of the company's pipe lines in the taxing district, and the denominator of which is the length of the company's pipe lines in this state.[Pre-1975 Property Tax Recodification Citation: 6-1-44-11(8).]Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.90-2002, SEC.61; P.L.182-2009(ss), SEC.96.
Indiana Legal Code