§ 5-1.2-13-12 — Levy for flood control purposes

Indiana § 5-1.2-13-12

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.2: INDIANA FINANCE AUTHORITY
• Ch. 13: Flood Control Program

Text

(a) Except as provided in subsection (b), a
participant receiving a loan or other financial assistance under:
(1) this chapter;
(2) IC 13-2-23 (before its repeal); or
(3) IC 14-28-5 (before its repeal);
may levy an annual tax on personal and real property located within the
geographical limits of the participant for flood control purposes. The
tax is in addition to any other tax authorized by law to be levied for
flood control purposes. The tax shall be levied at the rate that will
produce sufficient revenue to pay the annual installment and interest on
a loan or other financial assistance made under this chapter, under IC 13-2-23 (before its repeal), or under IC 14-28-5 (before its repeal). The
tax at the rate authorized in this section is in addition to the maximum
annual rates prescribed by law.
(b) This subsection applies to the participation of the Kankakee
River basin and Yellow River basin development commission. If the
commission receives a loan or other financial assistance under this
chapter, the commission must pay the annual installment and interest
on the loan or other financial assistance from any combination of the
direct support payments received under IC 14-13-9-21, the proceeds of
special assessments imposed under IC 14-13-9-21, or other funds of the
commission deemed acceptable by the authority.

Legislative History

As added by P.L.189-2018, SEC.25. Amended by P.L.282-2019, SEC.2.