Indiana § 6-3.6-10-2 Economic development purposes; use of revenue

Indiana Statutes

§ 6-3.6-10-2 — Economic development purposes; use of revenue

Indiana § 6-3.6-10-2

Art. 3.6LOCAL INCOME TAXES

Ch. 10Permitted Expenditures

This text of Indiana § 6-3.6-10-2 (Economic development purposes; use of revenue) 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 § 6-3.6-10-2 (2026).

Text

Note: This version of section effective until 1-1-2028. See also following version of this section, effective 1-1-2028. Sec. 2. A county, city, or town may use revenue allocated for economic development purposes under IC 6-3.6-6-9 for any combination of the following purposes:

(1)To pay all or a part of the interest owed by a private developer or user on a loan extended by a financial institution or other lender to the developer or user if the proceeds of the loan are or are to be used to finance an economic development project.

(2)For the retirement of bonds for economic development projects.

(3)For leases or for leases or bonds entered into or issued before the date the county economic development income tax (IC 6-3.5-7 repealed) was imposed if the purpose of the lease or bonds would

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Note: This version of section effective until 1-1-2028. See also
following version of this section, effective 1-1-2028.
Sec. 2. A county, city, or town may use revenue
allocated for economic development purposes under IC 6-3.6-6-9 for
any combination of the following purposes:
(1) To pay all or a part of the interest owed by a private developer
or user on a loan extended by a financial institution or other
lender to the developer or user if the proceeds of the loan are or
are to be used to finance an economic development project.
(2) For the retirement of bonds for economic development
projects.
(3) For leases or for leases or bonds entered into or issued before
the date the county economic development income tax (IC 6-3.5-7
repealed) was imposed if the purpose of the lease or bonds would
have qualified as a purpose under this article at the time the lease
was entered into or the bonds were issued.
(4) The construction or acquisition of, or remedial action with
respect to, a capital project for which the unit is empowered to
issue general obligation bonds or establish a fund under any
statute listed in IC 6-1.1-18.5-9.8.
(5) The retirement of bonds issued under any provision of Indiana
law for a capital project.
(6) The payment of lease rentals under any statute for a capital
project.
(7) Contract payments to a nonprofit corporation whose primary
corporate purpose is to assist government in planning and
implementing economic development projects.
(8) Operating expenses of a governmental entity that plans or
implements economic development projects.
(9) Funding of a revolving fund established under IC 5-1-14-14.
(10) For a regional venture capital fund or a local venture capital
fund.
(11) For any lawful purpose for which money in any of its other
funds may be used.