§ 36-7-12-19 — Special tax levy; transfer of money to department of economic development; adoption and submission of proposed budget

(a) The fiscal body of a unit may levy a
special tax to pay the costs of operation of its economic development
commission, but this tax may not be used to pay any of the costs
attributable to the acquisition and leasing or sale of economic
development or pollution control facilities, except for advancements to
be reimbursed from bond proceeds.
(b) Any unit having money raised by taxation for any type of
industrial aid or development as authorized by any other statute may
transfer that money to its department of economic development to carry
out the purposes of this chapter.
(c) Before a tax is levied under subsection (a) or money is
transferred under subsection (b), the economic development
commission must:
(1) adopt a proposed budget for the use of the money it will
receive from the levy or transfer; and
(2) submit the budget to the fiscal body of the unit that established
the commission.
The fiscal body may review and modify the proposed budget.
[Pre-Local Government Recodification Citation:
18-6-4.5-12.]
As added by Acts 1981, P.L.309, SEC.31. Amended by Acts
1981, P.L.310, SEC.73.