Indiana § 36-7-32.5-16 Administrative rules; neutralization of effect of reassessment or annual
adjustment

Indiana Statutes

§ 36-7-32.5-16 — Administrative rules; neutralization of effect of reassessment or annual adjustment

Indiana § 36-7-32.5-16

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 32.5Innovation Development Districts

This text of Indiana § 36-7-32.5-16 (Administrative rules; neutralization of effect of reassessment or annual adjustment) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 36-7-32.5-16 (2026).

Text

(a)The state board of accounts, the department of state revenue, and the department of local government finance may adopt rules under IC 4-22-2 and prescribe the forms and procedures that the state board of accounts, the department of state revenue, and the department of local government finance consider appropriate for the implementation of an innovation development district under this chapter. However, before adopting rules under this section, the state board of accounts, the department of state revenue, and the department of local government finance shall submit a report to the budget committee that:

(1)describes the rules proposed by the state board of accounts, the department of state revenue, and the department of local government finance; and

(2)recommends statutory changes neces

Free access — add to your briefcase to read the full text and ask questions with AI

(a) The state board of accounts, the
department of state revenue, and the department of local government
finance may adopt rules under IC 4-22-2 and prescribe the forms and
procedures that the state board of accounts, the department of state
revenue, and the department of local government finance consider
appropriate for the implementation of an innovation development
district under this chapter. However, before adopting rules under this
section, the state board of accounts, the department of state revenue,
and the department of local government finance shall submit a report
to the budget committee that:
(1) describes the rules proposed by the state board of accounts,
the department of state revenue, and the department of local
government finance; and
(2) recommends statutory changes necessary to implement the
provisions of this chapter.
(b) After each reassessment of real property in an area under a
county's reassessment plan prepared under IC 6-1.1-4-4.2, the
department of local government finance shall adjust the base assessed
value one (1) time to neutralize any effect of the reassessment of the
real property in the area on the property tax proceeds allocated to the
local innovation development district fund established by section 19 of
this chapter.
(c) After each annual adjustment under IC 6-1.1-4-4.5, the
department of local government finance shall adjust the base assessed
value to neutralize any effect of the annual adjustment on the property
tax proceeds allocated to the local innovation development district fund
established by section 19 of this chapter.