§ 36-7.5-4-16.5 — Failure of certain cities or counties to make a transfer; duties of state treasurer; deduction of amounts payable to city or county; payment to development authority

Indiana § 36-7.5-4-16.5

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7.5: NORTHWEST INDIANA REGIONAL
• Ch. 4: Financing; Issuance of Bonds; Leases

Text

5. (a) This section applies if the
development board does the following:
(1) Finds that a city or county described in IC 36-7.5-2-3 has, at
any time before July 1, 2015, failed to make a transfer or a part of
a transfer required by section 2 of this chapter.
(2) Finds that the obligation of the city or county to pay the
unpaid amount of the transfer or transfers has not been satisfied
under section 16 of this chapter or by any other means.
(3) Certifies to the treasurer of state the total amount of the
arrearage attributable to the failure of the city or county to make
a transfer or a part of a transfer required by section 2 of this
chapter.
(b) The treasurer of state shall do the following:
(1) Deduct from amounts otherwise payable to the city under IC 4-33-13-5(a) or to the county under IC 4-33-12-6 an amount equal
to:
(A) the total amount certified under subsection (a)(3); plus
(B) interest calculated in the same manner that interest on
delinquent taxes is calculated under IC 6-8.1-10-1.
(2) Pay the amount deducted under subdivision (1) to the
development authority.

Legislative History

As added by P.L.192-2015, SEC.16. Amended by P.L.149-2016, SEC.99.