development; certified shares Sec. 4. The adopting body shall, by ordinance, determine how the additional revenue from a tax under this chapter must be allocated in subsequent years. The allocations are subject to IC 6-3.6-11. The ordinance must be adopted as provided in IC 6-3.6-3 and takes effect and applies as specified in IC 6-3.6-3-3. The ordinance continues to apply thereafter until it is rescinded or modified. The revenue must be allocated among one (1) or more of the following uses as provided in this chapter: (1) Public safety. (2) Economic development projects. (3) Certified shares. The ordinance must describe the allocation of additional revenue by use of percentages. As added by P.L.243-2015, SEC.10. Amended by P.L.197-2016, SEC.48; P.L.247-2017, SEC.15.
IC 6-3.6-6-5 Allocations; pledge for payment of bonds or leases Sec. 5. The adopting body may not reduce the proportional allocation among the uses described in section 4 of this chapter in a year if the reduction would allocate less to the payment of bonds or leases for which the tax under this chapter has been pledged in accordance with law than the amount pledged and payable in that year or required under the agreements for the bonds or leases to be deposited in a sinking fund or other reserve in that year. As added by P.L.243-2015, SEC.10. Amended by P.L.197-2016, SEC.49.