§ 36-1-8-9.2 — Separate fund for deposit of county slot machine wagering fee revenue

Indiana § 36-1-8-9.2

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 1: GENERAL PROVISIONS
• Ch. 8: Miscellaneous Fiscal and Administrative Provisions

Text

2. (a) Each unit that receives:
(1) tax revenue under IC 4-35-8.5; or
(2) revenue under an agreement to share the tax revenue received
under IC 4-35-8.5 by another unit;
shall establish a fund, separate from the unit's general fund, into which
the revenue shall be deposited. Money in the fund may be used for any
legal or corporate purpose of the unit.
(b) The fund established by subsection (a) shall be administered by
the unit's treasurer, and the expenses of administering the fund shall be
paid from money in the fund. Money in the fund not currently needed
to meet the obligations of the fund may be invested in the same manner
as other public funds may be invested. Interest that accrues from these
investments shall be deposited in the fund. Money in the fund at the
end of a particular fiscal year does not revert to the unit's general fund.

Legislative History

As added by P.L.142-2009, SEC.31.