Indiana § 6-9-76-6 Tourism capital fund

Indiana Statutes

§ 6-9-76-6 — Tourism capital fund

Indiana·Art. 9 INNKEEPER'S TAXES; OTHER LOCAL TAXES·Ch. 76 Switzerland County Innkeeper's Tax

(a)If the county fiscal body adopts an ordinance to increase the tax rate to a rate that exceeds five percent (5%), the county treasurer shall establish a tourism capital fund. The county treasurer shall deposit in the tourism capital fund the amount of money received under section 3 of this chapter attributable to a tax rate that exceeds five percent (5%).

(b)The county auditor shall issue a warrant directing the county treasurer to transfer money from the tourism capital fund to the commission's treasurer if the commission submits a written request for the transfer.

(c)Money deposited in the tourism capital fund shall be transferred or expended only as provided in this section and may be used as follows:

(1)To fund a riverfront park and festival grounds.

(2)Economic development and

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(a) If the county fiscal body adopts an ordinance
to increase the tax rate to a rate that exceeds five percent (5%), the
county treasurer shall establish a tourism capital fund. The county
treasurer shall deposit in the tourism capital fund the amount of money
received under section 3 of this chapter attributable to a tax rate that
exceeds five percent (5%).
(b) The county auditor shall issue a warrant directing the county
treasurer to transfer money from the tourism capital fund to the
commission's treasurer if the commission submits a written request for
the transfer.
(c) Money deposited in the tourism capital fund shall be transferred
or expended only as provided in this section and may be used as
follows:
(1) To fund a riverfront park and festival grounds.
(2) Economic development and tourism related purposes.
(3) The pledge of money under IC 5-1-14-4 for bonds, leases, or
other obligations incurred for a purpose described in subdivisions
(1) and (2).