This text of Indiana § 6-1.1-17-3.1 (School corporation operating referendum tax levy; maximum amount) 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.
1.
(a)This section:
(1)applies only to an operating referendum tax levy under IC 20-46-1 approved by the voters before January 1, 2023, that is
imposed by a school corporation for taxes first due and payable in
2024 and 2025;
(2)does not apply to an operating referendum tax levy under IC 20-46-1:
(A)approved by the voters during a time that the school
corporation imposing the levy was designated as a distressed
political subdivision; or
(B)approved by the voters after December 31, 2022, and before
January 1, 2025, that is imposed by a school corporation for
taxes first due and payable in 2024 or 2025; and
(3)does not apply to any other tax year.
(b)As used in this section, "ADM" refers to the school corporation's
average daily membership used to determine the state tuition support
d
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1. (a) This section:
(1) applies only to an operating referendum tax levy under IC 20-46-1 approved by the voters before January 1, 2023, that is
imposed by a school corporation for taxes first due and payable in
2024 and 2025;
(2) does not apply to an operating referendum tax levy under IC 20-46-1:
(A) approved by the voters during a time that the school
corporation imposing the levy was designated as a distressed
political subdivision; or
(B) approved by the voters after December 31, 2022, and before
January 1, 2025, that is imposed by a school corporation for
taxes first due and payable in 2024 or 2025; and
(3) does not apply to any other tax year.
(b) As used in this section, "ADM" refers to the school corporation's
average daily membership used to determine the state tuition support
distribution under IC 20-43. In the case of a school corporation that has
entered into an agreement with one (1) or more charter schools to
participate as an innovation network charter school under IC 20-25.7-5,
the term includes the average daily membership of any innovation
network charter school that is treated as a school operated by the school
corporation when calculating the total amount of state tuition support
to be distributed to the school corporation.
(c) Notwithstanding any increase in the assessed value of property
from the previous assessment date, for taxes first due and payable in
2024, the total amount of operating referendum tax that may be levied
by a school corporation may not exceed the lesser of:
(1) the maximum operating referendum tax that could have been
levied by the school corporation if the maximum referendum rate
was imposed for taxes first due and payable in 2023 multiplied by
one and three-hundredths (1.03); or
(2) the maximum operating referendum tax that could otherwise
be levied by the school corporation for taxes first due and payable
in 2024.
The tax rate for an operating referendum tax levy shall be decreased,
if necessary, to comply with this limitation.
(d) Notwithstanding any increase in the assessed value of property
from the previous assessment date, for taxes first due and payable in
2025, the total amount of operating referendum tax that may be levied
by a school corporation may not exceed the lesser of the following:
(1) The maximum operating referendum tax that could have been
levied by the school corporation if the maximum referendum rate
was imposed for taxes first due and payable in the immediately
preceding calendar year, as adjusted by this section, multiplied by
the result determined under STEP SEVEN of the following
formula:
STEP ONE: Subtract:
(i) the school corporation's spring count of ADM made in the
calendar year preceding by five (5) years the calendar year in
which the property taxes are first due and payable; from
(ii) the school corporation's spring count of ADM made in the
immediately preceding calendar year.
STEP TWO: Divide the STEP ONE result by four (4).
STEP THREE: Divide the STEP TWO result by the school
corporation's spring count of ADM made in the calendar year
preceding by five (5) years the calendar year in which the
property taxes are first due and payable.
STEP FOUR: Multiply the STEP THREE amount by one and
five-tenths (1.5).
STEP FIVE: Add the STEP FOUR result and one and
six-hundredths (1.06).
STEP SIX: Determine the greater of the STEP FIVE result or
one and six-hundredths (1.06).
STEP SEVEN: Determine the lesser of the STEP SIX result or
one and twelve-hundredths (1.12).
(2) The maximum operating referendum tax that could otherwise
be levied by the school corporation for taxes first due and payable
in the current calendar year.
The tax rate for an operating referendum tax levy shall be decreased,
if necessary, to comply with this limitation.
(e) The department of education shall provide to the department of
local government finance each school corporation's applicable ADM
counts as needed to make the determinations under this section.