§ 6-1.1-18.5-21 — Civil taxing unit's determination that levy limits do not apply to taxes to repay certain rainy day fund loans

Indiana § 6-1.1-18.5-21

• Jurisdiction: Indiana
• Art. 1.1: PROPERTY TAXES
• Ch. 18.5: Civil Government Property Tax Controls

Text

(a) A civil taxing unit may determine that
the ad valorem property tax levy limits imposed by section 3 of this
chapter do not apply to all or part of the ad valorem property taxes
imposed to repay a loan under either or both of the following:
(1) IC 6-1.1-21.3.
(2) IC 6-1.1-21.9.
(b) This subsection applies to a civil taxing unit or school
corporation located in Lake County that has received or is receiving a
loan under IC 6-1.1-22.1. The ad valorem property tax levy limits
imposed in section 3 of this chapter do not apply to all or part of the ad
valorem property taxes imposed to repay a loan under IC 6-1.1-22.1 for
the ensuing calendar year if:
(1) the civil taxing unit or school corporation provides to the
department the information the department considers necessary
to determine the amount of ad valorem property taxes imposed to
repay the loan in the ensuing calendar year; and
(2) the information described in subdivision (1) is provided to the
department not later than December 1 of the year preceding the
ensuing calendar year.

Legislative History

As added by P.L.114-2006, SEC.1. Amended by P.L.182-2009(ss), SEC.138; P.L.236-2023, SEC.31.