Indiana § 6-9-44-9 Use of tax revenue

Indiana Statutes

§ 6-9-44-9 — Use of tax revenue

Indiana·Art. 9 INNKEEPER'S TAXES; OTHER LOCAL TAXES·Ch. 44 City of Fishers Food and Beverage Tax

Money in the food and beverage tax receipts fund shall be used by the city:

(1)to reduce the city's property tax levy for a particular year at the discretion of the city, but this use does not reduce the maximum permissible ad valorem property tax levy under IC 6-1.1-18.5 for the city; or

(2)for economic development purposes, including the pledge of money under IC 5-1-14-4 for bonds, leases, or other obligations for economic development purposes. Revenue derived from the imposition of a tax under this chapter may be treated by the city as additional revenue for the purpose of fixing its budget for the budget year during which the revenues are to be distributed to the city.

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Money in the food and beverage tax receipts
fund shall be used by the city:
(1) to reduce the city's property tax levy for a particular year at the
discretion of the city, but this use does not reduce the maximum
permissible ad valorem property tax levy under IC 6-1.1-18.5 for
the city; or
(2) for economic development purposes, including the pledge of
money under IC 5-1-14-4 for bonds, leases, or other obligations
for economic development purposes.
Revenue derived from the imposition of a tax under this chapter may
be treated by the city as additional revenue for the purpose of fixing its
budget for the budget year during which the revenues are to be
distributed to the city.

Indiana § 6-9-44-9 (Use of tax revenue) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.