MARINE CARGO CONTAINERS USED EXCLUSIVELY IN INTERNATIONAL COMMERCE

(a) A person is entitled to an exemption from taxation of a marine cargo container and the equipment related to the container that the person owns if: (1) the person is: (A) a citizen of a foreign country; or (B) an entity organized under the laws of a foreign country; and (2) the container is: (A) based, registered, and subject to taxation in a foreign country; and (B) used exclusively in international commerce. (b) In this section, "marine cargo container": (1) means a container that may be: (A) used to transport goods by ship; (B) readily handled; (C) transferred from one mode of transport to another without reloading; and (D) used repeatedly; and (2) includes a container that is fully or partially enclosed so as to serve as a compartment for goods, has an open top suitable for loading goods into the container, or consists of a flat rack suitable for securing goods onto the container.