§ 20-45-7-27 — Correction of errors

(a) If the tax rate is incorrect because of an
error in calculating its amount, including a mistake in the amount of
assessment, the error shall be expeditiously corrected within the next
two (2) years by decreasing or increasing the rate of the tax set during
those two (2) years.
(b) If the entitlement received by a qualified school corporation in
any calendar year is more or less than its entitlement on account of an
error in calculation, the amount of entitlement of a qualified school
corporation shall be similarly adjusted within the next two (2) calendar
years.
(c) If the money credited to the fund during any year is more or less
than the total entitlements of the qualified school corporations for the
calendar year, except for a greater or lesser receipt incident due to an
error in calculating an entitlement or its correction, the county auditor
shall increase or reduce each qualified school corporation's entitlement
by the same percentage.
(d) The entire balance of the fund for each calendar year shall be
distributed.
[Pre-2006 Recodification Citation: 21-2-12-8.1 part.]

Legislative History

As added by P.L.2-2006, SEC.168.