67-6-384 - Spallation neutron source facility. - Tennessee Statutes

67-6-384. Spallation neutron source facility.

(a)  Notwithstanding any provision of law to the contrary, with respect to a spallation neutron source facility that is funded by the United States government or instrumentality thereof, not funded with any state funds and located at a national laboratory, there shall be exempt from the tax levied by this chapter any:

     (1)  Property that becomes a component part of or is used exclusively in the operation or repair of the facility;

     (2)  Services, materials or items furnished or supplied to the facility and used exclusively in the operation of the facility; and

     (3)  Property, services, building materials, machinery, equipment, supplies, repair parts, replacement materials or other items used exclusively in the construction, operation or repair of the facility or its operations.

(b)  The exemptions provided in this section shall apply regardless of whether the exempted property or service is leased or purchased.

[Acts 2000, ch. 540, § 1.]