745

An individual, partnership, joint venture, corporation, or organization who qualifies under the provisions of this subchapter shall be entitled to:\n(a) An exemption from the payment of all gross receipts taxes while the business remains in operation and maintains its mission of providing recreational services for young people as specified in the approved application for a period of five (5) years.\n(b) An exemption from all excise taxes on building materials, articles, goods, merchandise, tools, equipment and supplies that constitute necessary purchases for the initial start-up of the business.\n(c) An exemption from real property taxes for the property on which the facility exists, provided, that the beneficiary is the owner of the real property and the facility is used for the purposes outlined in the approved application for a period of five (5) years.