(a)On or before May 1, subject to
subsections (c) and (d), the state comptroller shall distribute to each
county auditor an amount equal to fifty percent (50%) of the product
of:
(1)the county's distribution percentage; multiplied by
(2)the total commercial vehicle excise tax deposited in the
commercial vehicle excise tax fund in the preceding calendar
year.
(b)On or before December 1, subject to subsections (c) and (d), the
state comptroller shall distribute to each county auditor an amount
equal to fifty percent (50%) of the product of:
(1)the county's distribution percentage; multiplied by
(2)the total commercial vehicle excise tax deposited in the
commercial vehicle excise tax fund in the preceding calendar
year.
(c)Before distributing the amounts under subsections (a) and (b),
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(a) On or before May 1, subject to
subsections (c) and (d), the state comptroller shall distribute to each
county auditor an amount equal to fifty percent (50%) of the product
of:
(1) the county's distribution percentage; multiplied by
(2) the total commercial vehicle excise tax deposited in the
commercial vehicle excise tax fund in the preceding calendar
year.
(b) On or before December 1, subject to subsections (c) and (d), the
state comptroller shall distribute to each county auditor an amount
equal to fifty percent (50%) of the product of:
(1) the county's distribution percentage; multiplied by
(2) the total commercial vehicle excise tax deposited in the
commercial vehicle excise tax fund in the preceding calendar
year.
(c) Before distributing the amounts under subsections (a) and (b),
the state comptroller shall deduct for a county unit an amount for
deposit in a state fund, as directed by the budget agency, equal to the
result determined under STEP FIVE of the following formula:
STEP ONE: Separately for 2006, 2007, and 2008, determine the
result of:
(A) the tax rate imposed by the county in the year for the
county's county medical assistance to wards fund, family and
children's fund, children's psychiatric residential treatment
services fund, county hospital care for the indigent fund,
children with special health care needs county fund, plus, in the
case of Marion County, the tax rate imposed by the health and
hospital corporation that was necessary to raise thirty-five
million dollars ($35,000,000) from all taxing districts in the
county; divided by
(B) the aggregate tax rate imposed by the county unit and, in
the case of Marion County, the health and hospital corporation
in the year.
STEP TWO: Determine the sum of the STEP ONE amounts.
STEP THREE: Divide the STEP TWO result by three (3).
STEP FOUR: Determine the amount that would otherwise be
distributed to the county under subsection (a) or (b), as
appropriate, without regard to this subsection.
STEP FIVE: Determine the result of:
(A) the STEP THREE amount; multiplied by
(B) the STEP FOUR result.
(d) Before distributing the amounts under subsections (a) and (b),
the state comptroller shall deduct for a school corporation an amount
for deposit in a state fund, as directed by the budget agency, equal to
the result determined under STEP FIVE of the following formula:
STEP ONE: Separately for 2006, 2007, and 2008, determine the
result of:
(A) the tax rate imposed by the school corporation in the year
for the tuition support levy under IC 6-1.1-19-1.5 (repealed) or
IC 20-45-3-11 (repealed) for the school corporation's general
fund plus the tax rate imposed by the school corporation for the
school corporation's special education preschool fund; divided
by
(B) the aggregate tax rate imposed by the school corporation in
the year.
STEP TWO: Determine the sum of the results determined under
STEP ONE.
STEP THREE: Divide the STEP TWO result by three (3).
STEP FOUR: Determine the amount of commercial vehicle
excise tax that would otherwise be distributed to the school
corporation under subsection (a) or (b), as appropriate, without
regard to this subsection.
STEP FIVE: Determine the result of:
(A) the STEP FOUR amount; multiplied by
(B) the STEP THREE result.
(e) The state comptroller shall calculate the distribution amount for
each taxing unit in a county and, when distributing the amounts under
subsections (a) and (b), furnish to each county auditor the distribution
amounts calculated for each taxing unit in the county. The county
auditor shall distribute the amounts to each taxing unit at the same time
property taxes are apportioned and distributed.
(f) In the event that sufficient funds are not available in the
commercial vehicle excise tax fund for the distributions required by
subsection (a) and subsection (b)(1), the state comptroller shall transfer
funds from the commercial vehicle excise tax reserve fund.
(g) The state comptroller shall, not later than July 1 of each year,
furnish to each county auditor an estimate of the amounts to be
distributed to the counties under this section during the next calendar
year. Before August 1, each county auditor shall furnish to the proper
officer of each taxing unit of the county an estimate of the amounts to
be distributed to the taxing units under this section during the next
calendar year and the budget of each taxing unit shall show the
estimated amounts to be received for each fund for which a property
tax is proposed to be levied.
(h) The taxing unit may deposit distributions received under
subsections (a) and (b) in any fund maintained by the taxing unit, and
the distributions may be used for any purpose allowed by law.