§ 5-13-6-3 — Taxes collected by county treasurer; deposit; advance by county auditor to political subdivisions; semiannual distribution

Indiana § 5-13-6-3

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 13: INVESTMENT OF PUBLIC FUNDS
• Ch. 6: Deposit of Public Funds

Text

(a) All taxes collected by the county treasurer
shall be deposited as one (1) fund in the several depositories selected
for the deposit of county funds and, except as provided in subsection
(b), remain in the depositories until distributed at the following
semiannual distribution made by the county auditor.
(b) Every county treasurer who, by virtue of the treasurer's office, is
the collector of any taxes for any political subdivision wholly or partly
within the county shall, not later than thirty (30) days after receipt of a
written request for funds filed with the treasurer by a proper officer of
any political subdivision within the county, provide to the county
auditor the amount available for distribution, as certified for each
semiannual distribution under IC 6-1.1-27-2. The county auditor shall
advance to that political subdivision a portion of the taxes collected
before the semiannual distribution. The amount advanced may not
exceed the lesser of:
(1) ninety-five percent (95%) of the total amount collected at the
time of the advance; or
(2) ninety-five percent (95%) of the amount to be distributed at
the semiannual distribution.
(c) Upon notice from the county treasurer of the amount to be
advanced, the county auditor shall draw a warrant upon the county
treasurer for the amount. The amount of the advance must be available
immediately for the use of the political subdivision.
(d) At the semiannual distribution all the advances made to any
political subdivision under subsection (b) shall be deducted from the
total amount due any political subdivision as shown by the distribution.
(e) If a county auditor fails to make a distribution of tax collections
by the deadline for distribution under subsection (b), a political
subdivision that was to receive a distribution may recover interest on
the undistributed tax collections under IC 6-1.1-27-1.

Legislative History

As added by P.L.19-1987, SEC.8. Amended by P.L.245-2003, SEC.1; P.L.146-2008, SEC.38; P.L.89-2010, SEC.1; P.L.166-2014, SEC.1.