§ 6-1.1-21.2-11 — Tax increment replacement amount; calculation

Indiana § 6-1.1-21.2-11

• Jurisdiction: Indiana
• Art. 1.1: PROPERTY TAXES
• Ch. 21.2: Tax Increment Replacement

Text

(a) The governing body shall estimate the
tax increment replacement amount for each allocation area under the
jurisdiction of the governing body for the next calendar year on the
schedule prescribed by the department of local government finance.
(b) The tax increment replacement amount is the greater of zero (0)
or the net amount by which:
(1) laws enacted by the general assembly; and
(2) actions taken by the department of local government finance;
after the establishment of the allocation area have decreased the tax
increment revenues of the allocation area for the next calendar year
(after adjusting for any increases resulting from laws or actions of the
department of local government finance) below the sum of the amount
needed to make all payments that are due in the next calendar year on
obligations payable from tax increment revenues and to maintain any
tax increment revenue to obligation payment ratio required by an
agreement on which any of the obligations are based.

Legislative History

As added by P.L.192-2002(ss), SEC.44. Amended by P.L.256-2003, SEC.25; P.L.146-2008, SEC.238.