Indiana § 6-9-26-12.5 Transfer of funds; use

Indiana Statutes

§ 6-9-26-12.5 — Transfer of funds; use

Indiana § 6-9-26-12.5

Art. 9INNKEEPER'S TAXES; OTHER LOCAL TAXES

Ch. 26Madison County Food and Beverage Tax

This text of Indiana § 6-9-26-12.5 (Transfer of funds; use) 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 § 6-9-26-12.5 (2026).

Text

5.

(a)This section applies if there are no outstanding obligations for which a pledge has been made under section 15(a) of this chapter concerning uses authorized under section 12 of this chapter.

(b)Money deposited in the county economic development project fund shall be transferred to the following:

(1)Forty percent (40%) of the money deposited shall be transferred to the fiscal officer of a city having a population of more than fifty-four thousand (54,000) and less than fifty-eight thousand (58,000).

(2)Forty percent (40%) of the money deposited shall be transferred to the county general fund. Money transferred under this subdivision shall be used for the following purposes:

(A)The financing, construction, or equipping of a secure detention facility under IC 31-31-8 or IC 31-6-9-5

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5. (a) This section applies if there are no
outstanding obligations for which a pledge has been made under
section 15(a) of this chapter concerning uses authorized under section
12 of this chapter.
(b) Money deposited in the county economic development project
fund shall be transferred to the following:
(1) Forty percent (40%) of the money deposited shall be
transferred to the fiscal officer of a city having a population of
more than fifty-four thousand (54,000) and less than fifty-eight
thousand (58,000).
(2) Forty percent (40%) of the money deposited shall be
transferred to the county general fund. Money transferred under
this subdivision shall be used for the following purposes:
(A) The financing, construction, or equipping of a secure
detention facility under IC 31-31-8 or IC 31-6-9-5 (repealed).
(B) All reasonable and necessary architectural, engineering,
legal, financing, accounting, advertising, and supervisory
expenses related to the financing, construction, or equipping of
a facility described in clause (A).
(C) The retiring of any bonds issued, loans obtained, or lease
payments incurred under IC 36-1-10 to finance, construct, or
equip a facility described in clause (A).
(3) Twenty percent (20%) of the money deposited shall be
transferred to the county general fund. Money transferred under
this subdivision shall be used for economic development projects
in locations other than a city described in subdivision (1).
(c) After the retiring of any bonds issued, loans obtained, or lease
payments incurred under IC 36-1-10 to finance, construct, or equip a
secure detention facility under subsection (b)(2), money deposited in
the county economic development project fund shall be transferred to
the following:
(1) Seventy percent (70%) of the money deposited shall be
transferred to the fiscal officer of a city described in subsection
(b)(1).
(2) Thirty percent (30%) of the money deposited shall be
transferred to the county general fund. Money transferred under
this subdivision shall be used for economic development projects
in locations other than a city described in subsection (b)(1).
(d) Money transferred to a city fiscal officer under subsection (b)(1)
or (c)(1) shall be credited to a special account to be known as the city
economic development account. Money credited to the account shall
be used only for those purposes described in IC 6-3.6-10-2 (local
income tax for economic development purposes).

Legislative History

As added by P.L.51-1992, SEC.2. Amended by P.L.1-1997, SEC.38; P.L.170-2002, SEC.50; P.L.119-2012, SEC.72; P.L.197-2016, SEC.79; P.L.104-2022, SEC.48.