Title 6, TITLE 6. TAXATION
297 chapters · 4,481 sections in this title.
Ind. Code § 6-1.1-22.1-1 "Board"
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Sec. 1. As used in this chapter, "board" refers to the state board of finance. As added by P.L.236-2023, SEC.43.
Ind. Code § 6-1.1-22.1-10 Exclusion of the loan obligation as basis to obtain an excessive
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tax levy Sec. 10. An obligation to repay a loan made under this chapter is not a basis for the qualified taxing unit to obtain an excessive tax levy. As added by P.L.236-2023, SEC.43.
Ind. Code § 6-1.1-22.1-11 Deposit of repayment amounts in the counter-cyclical revenue
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and economic stabilization fund Sec. 11. When the treasurer of state receives a payment with respect to a loan under this chapter, the treasurer of state shall deposit the amount received in the counter-cyclical revenue and economic stabilization fund. As added by P.L.236-2023, S…
Ind. Code § 6-1.1-22.1-12 Loan proceeds; not considered part of ad valorem property tax
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levy actually collected Sec. 12. The proceeds of a loan under this chapter received by an eligible taxing unit are not considered to be part of the ad valorem property tax levy actually collected by the qualified taxing unit for taxes first due and payable during a particular cal…
Ind. Code § 6-1.1-22.1-13 Authority for the making of the loans; authorization; issuance;
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sale; and delivery of a note associated with a loan Sec. 13. Notes associated with loans under this chapter, and the authorization, issuance, sale, and delivery of the notes, are not subject to any general statute concerning obligations issued by the local governmental entity bor…
Ind. Code § 6-1.1-22.1-14 Payment of unpaid amount due; funds held by the state that
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would otherwise be distributable to the qualified taxing unit Sec. 14. Upon the failure of a qualified taxing unit to make any of the qualified taxing unit's payments on a loan granted under this chapter when due, the treasurer of state, upon being notified of the failure by the …
Ind. Code § 6-1.1-22.1-15 Loan; not bonded indebtedness
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Sec. 15. A loan under this chapter is not bonded indebtedness for purposes of IC 6-1.1-18.5 or IC 6-1.1-20. As added by P.L.236-2023, SEC.43.
Ind. Code § 6-1.1-22.1-2 "Qualified taxing unit"
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Sec. 2. As used in this chapter, "qualified taxing unit" means a city, township, or school corporation located in Lake County that experienced a property tax revenue shortfall in one (1) or more tax years: (1) that resulted from erroneous assessed valuation figures being provided…
Ind. Code § 6-1.1-22.1-3 Application for loan from counter-cyclical revenue and
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economic stabilization fund Sec. 3. A qualified taxing unit, subject to the approval of the fiscal body of the qualified taxing unit, may apply to the treasurer of state for a loan from the counter-cyclical revenue and economic stabilization fund. As added by P.L.236-2023, SEC.43…
Ind. Code § 6-1.1-22.1-4 Determination of the terms of loan
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Sec. 4. Subject to this chapter, the treasurer of state, after review by the budget committee, shall determine the terms of any loan made under this chapter. As added by P.L.236-2023, SEC.43.
Ind. Code § 6-1.1-22.1-5 Interest
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Sec. 5. The treasurer of state may: (1) impose interest on a loan under this chapter at a rate determined by the treasurer of state; or (2) determine that no interest is required to be charged on a loan under this chapter. As added by P.L.236-2023, SEC.43.
Ind. Code § 6-1.1-22.1-6 Limit on amount of loans; use of proceeds of a loan
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Sec. 6. (a) The total amount of all loans under this chapter for all calendar years may not exceed the total amount of property tax revenue shortfall for all qualified taxing units that resulted from erroneous assessed valuation amounts being provided to the qualified taxing unit…
Ind. Code § 6-1.1-22.1-7 Requirement to repay loans
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Sec. 7. If a qualified taxing unit receives a loan under this chapter, the qualified taxing unit must repay the loan within twenty-five (25) years after the date on which the loan is made. No penalty may be imposed for repaying a loan under this chapter before the term of the loa…
Ind. Code § 6-1.1-22.1-8 Disbursement of loan proceeds in installments
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Sec. 8. The treasurer of state may disburse in installments the proceeds of a loan made under this chapter. As added by P.L.236-2023, SEC.43.
Ind. Code § 6-1.1-22.1-9 Source of loan repayment
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Sec. 9. A qualified taxing unit may repay a loan under this chapter from any source or sources of revenue. As added by P.L.236-2023, SEC.43.