Section 6-2.5-5-37 - Professional motor racing vehicle parts exemption; two-seater Indy car exemption; tires and accessories excluded(a) Transactions involving tangible personal property are exempt from the state gross retail tax, if the tangible personal property: (1) is leased, owned, or operated by a professional racing team; and(2) comprises any part of a professional motor racing vehicle, excluding tires and accessories.(b) Transactions involving tangible personal property are exempt from the state gross retail tax, if the tangible personal property: (1) is leased, owned, or operated by a company that is engaged in offering a competitive racing experience during a competitive racing event; and(2) comprises any part of a two-seater Indianapolis 500 style race car, excluding tires and accessories.Amended by P.L. 153-2012, SEC. 2, eff. 1/1/2011 (retroactive).As added by P.L. 19-1994, SEC.6. Amended by P.L. 193-2005, SEC.9.