Indiana § 6-1.1-21.8-3 Loan application; prerequisites to grant of loan

Indiana Statutes

§ 6-1.1-21.8-3 — Loan application; prerequisites to grant of loan

Indiana § 6-1.1-21.8-3

Art. 1.1PROPERTY TAXES

Ch. 21.8Rainy Day Fund Loans to Qualified Taxing Units

This text of Indiana § 6-1.1-21.8-3 (Loan application; prerequisites to grant of loan) 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.

Bluebook

Ind. Code § 6-1.1-21.8-3 (2026).

Text

A qualified taxing unit may apply to the board for one (1) or more loans from the counter-cyclical revenue and economic stabilization fund. The board may make a loan from the fund to the qualified taxing unit if:

(1)a taxpayer with tangible property subject to taxation by the qualified taxing unit has filed a petition to reorganize under the federal bankruptcy code;

(2)the taxpayer has defaulted on one (1) or more of its property tax payments;

(3)the qualified taxing unit has experienced and will continue to experience a significant revenue shortfall as a result of the default; and

(4)the taxpayer is a steel manufacturer.

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A qualified taxing unit may apply to the
board for one (1) or more loans from the counter-cyclical revenue and
economic stabilization fund. The board may make a loan from the fund
to the qualified taxing unit if:
(1) a taxpayer with tangible property subject to taxation by the
qualified taxing unit has filed a petition to reorganize under the
federal bankruptcy code;
(2) the taxpayer has defaulted on one (1) or more of its property
tax payments;
(3) the qualified taxing unit has experienced and will continue to
experience a significant revenue shortfall as a result of the
default; and
(4) the taxpayer is a steel manufacturer.