Title 6, TAXATION

Sec. 7.5. (a) A person is entitled to a credit against the person's property tax liability for property taxes first due and payable after 2009. The amount of the credit is the amount by which the person's property tax liability attributable to the person's: (1) homestead exceeds …

Sec. 7.7. (a) This section applies for property taxes first due and payable in calendar years beginning after December 31, 2025. (b) A person who qualifies for a standard deduction from the assessed value of the person's homestead under IC 6-1.1-12-37 (or is married at the time o…

Sec. 8. Except as provided in section 8.5 of this chapter, a person is not required to file an application for the credit under this chapter. The county auditor shall: (1) identify the property in the county eligible for the credit under this chapter; and (2) apply the credit und…

Sec. 8.5. (a) This section applies to an individual who: (1) qualified for a standard deduction granted under IC 6-1.1-12-37 for the individual's homestead property in the immediately preceding calendar year (or was married at the time of death to a deceased spouse who qualified …

Sec. 9.5. (a) This section applies only to credits under this chapter against property taxes first due and payable after December 31, 2006. (b) The application of the credit under this chapter, IC 6-1.1-49, or IC 6-1.1-51.3 results in a reduction of the property tax collections o…

Sec. 9.8. (a) This section applies to property taxes first due and payable after December 31, 2009. (b) The following definitions apply throughout this section: (1) "Debt service obligations of a political subdivision" refers to: (A) the principal and interest payable during a ca…

Sec. 9.9. (a) This subsection applies to credits allocated before January 1, 2024. If: (1) a school corporation after July 1, 2016, issues new bonds or enters into a new lease rental agreement for which the school corporation is imposing or will impose a debt service levy other t…

Sec. 1. As used in this chapter, "board" refers to the state board of finance. As added by P.L.182-2009(ss), SEC.153.

Sec. 10. The obligation to repay a loan made under this chapter is not a basis for the city of LaPorte to obtain an excessive tax levy. As added by P.L.182-2009(ss), SEC.153.

Sec. 11. Whenever the board receives a payment on a loan made under this chapter, the board shall deposit the amount paid in the counter-cyclical revenue and economic stabilization fund. As added by P.L.182-2009(ss), SEC.153.

Sec. 12. The proceeds of a loan received by an eligible taxing unit under this chapter are not considered to be part of the ad valorem property tax levy actually collected by the city of LaPorte for taxes first due and payable during a particular calendar year for the purpose of …

Sec. 13. The notes 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 borrower. This chapter contains full and complete authority for the making of the loan, the au…

Sec. 14. Upon the failure of the city of LaPorte to make any of the city's payments on a loan granted under this chapter when due, the treasurer of state, upon being notified of the failure by the board, may pay the unpaid amount that is due from the funds held by the state that …

Sec. 2. The general assembly finds that: (1) distributions of property tax revenue for 2008 and 2009 to the city of LaPorte either: (A) have not been made; or (B) have been delayed by more than sixty (60) days after either due date specified in IC 6-1.1-22-9; as a result of a sta…

Sec. 3. The city of LaPorte, with the approval of the fiscal body of the city, may apply to the board for a loan from the counter-cyclical revenue and economic stabilization fund. As added by P.L.182-2009(ss), SEC.153.

Sec. 4. Subject to this chapter, the board, after review by the budget committee, shall determine the terms of any loan made under this chapter. As added by P.L.182-2009(ss), SEC.153.

Sec. 5. Interest may be imposed on the loan at a rate determined by the board. As added by P.L.182-2009(ss), SEC.153.

Sec. 6. The total amount of all loans under this chapter for all calendar years may not exceed the amount of revenue that the board determines has not been collected by the city of LaPorte from property taxes in 2008 and 2009 on the date of the loan. As added by P.L.182-2009(ss),…

Sec. 7. If the city of LaPorte receives a loan under this chapter, the city must repay the loan within seventy-two (72) months after the date on which the loan is made. No penalty may be imposed for repaying a loan before the term of the loan. As added by P.L.182-2009(ss), SEC.15…

Sec. 8. The board may disburse in installments the proceeds of a loan made under this chapter. As added by P.L.182-2009(ss), SEC.153.

Sec. 9. The city of LaPorte may repay a loan made under this chapter from any sources of revenue. As added by P.L.182-2009(ss), SEC.153.

Sec. 10. As used in this chapter, "tax increment revenues" means the property taxes attributable to the assessed value of property in excess of the base assessed value. As added by P.L.192-2002(ss), SEC.44.

Sec. 11. (a) The governing body shall estimate the tax increment replacement amount for each allocation area under the jurisdiction of the governing body for the next calendar year on the schedule prescribed by the department of local government finance. (b) The tax increment rep…

Sec. 12. (a) This section applies if the tax increment replacement amount for an allocation area in a district is greater than zero (0). (b) A governing body may, after a public hearing, do the following: (1) Impose a special assessment on the owners of property that is located i…

Sec. 15. (a) As the special assessment or tax imposed under this chapter is collected by the county treasurer, it shall be transferred to the governing body and accumulated and kept in the special fund for the allocation area. (b) A special assessment or tax levied under this cha…

Sec. 16. (a) This section applies if the tax increment replacement amount for an allocation area in a district is less than zero (0). (b) The governing body of a district shall increase the base assessed value of property in the allocation area to an amount sufficient so that the…

Sec. 2. Except as otherwise provided, the definitions in IC 36 apply throughout this chapter. As added by P.L.192-2002(ss), SEC.44.

Sec. 3. As used in this chapter, "allocation area" refers to an area that is established under the authority of any of the following statutes and in which tax increment revenues are collected: (1) IC 6-1.1-39. (2) IC 8-22-3.5. (3) IC 36-7-14. (4) IC 36-7-14.5. (5) IC 36-7-15.1. (…

Sec. 4. As used in this chapter, "base assessed value" means the base assessed value as that term is defined or used in: (1) IC 6-1.1-39-5(i); (2) IC 8-22-3.5-9(a); (3) IC 8-22-3.5-9.5; (4) IC 36-7-14-39(a); (5) IC 36-7-14-39.2; (6) IC 36-7-14-39.3(c); (7) IC 36-7-14-48; (8) IC 3…

Sec. 5. As used in this chapter, "district" refers to the following: (1) An economic development district under IC 6-1.1-39. (2) An eligible entity (as defined in IC 8-22-3.5-2.5). (3) A redevelopment district, for an allocation area established under: (A) IC 36-7-14; or (B) IC 3…

Sec. 6. As used in this chapter, "governing body" means the following: (1) For an allocation area created under IC 6-1.1-39, the fiscal body of the county (as defined in IC 36-1-2-6). (2) For an allocation area created under IC 8-22-3.5, the commission (as defined in IC 8-22-3.5-…

Sec. 6.6. As used in this chapter, "obligation" means an obligation to repay: (1) the principal and interest on bonds; (2) lease rentals on leases; or (3) any other contractual obligation; payable from tax increment revenues. The term includes a guarantee of repayment from tax in…

Sec. 7. As used in this chapter, "property taxes" means: (1) property taxes, as defined in: (A) IC 6-1.1-39-5(h); (B) IC 36-7-14-39(a); (C) IC 36-7-14-39.2; (D) IC 36-7-14-39.3(c); (E) IC 36-7-14.5-12.5; (F) IC 36-7-15.1-26(a); (G) IC 36-7-15.1-26.2(c); (H) IC 36-7-15.1-53(a); (I…

Sec. 8. As used in this chapter, "special fund" means: (1) the special funds referred to in IC 6-1.1-39-5; (2) the special funds referred to in IC 8-22-3.5-9(e); (3) the allocation fund referred to in IC 36-7-14-39(b)(4); (4) the allocation fund referred to in IC 36-7-14.5-12.5(d…

Sec. 9. As used in this chapter, "tax increment replacement amount" means the tax increment replacement amount determined under section 11 of this chapter. As added by P.L.192-2002(ss), SEC.44.

Sec. 1. (a) As used in this chapter, "board" refers to the state board of finance. (b) As used in this chapter, "qualified taxing unit" means a taxing unit: (1) in which a qualifying taxpayer has tangible property subject to taxation; and (2) that has experienced or is expected t…

Sec. 2. A qualified taxing unit may apply to the board for one (1) or more loans from the counter-cyclical revenue and economic stabilization fund. As added by P.L.182-2009(ss), SEC.156.

Sec. 3. (a) The board, after review by the budget committee, shall determine the terms of a loan made under this chapter, subject to the following: (1) The loan must be repaid not later than ten (10) years after the date on which the loan is made. (2) The terms of the loan must a…

Sec. 4. (a) As used in this section, "delinquent tax" means any tax not paid during the calendar year in which the tax was first due and payable. (b) Except as provided in subsection (c), the following are not considered to be part of the ad valorem property tax levy actually col…

Sec. 5. A loan under this chapter is not bonded indebtedness for purposes of IC 6-1.1-18.5. As added by P.L.182-2009(ss), SEC.156.

Sec. 0.5. As used in this chapter, "ADM" refers to a school corporation's average daily membership as determined under IC 20-43-4-2. As added by P.L.145-2012, SEC.15.

Sec. 1. As used in this chapter, "board" refers to the state board of finance. As added by P.L.131-2008, SEC.5.

Sec. 2. As used in this chapter, "eligible school corporation" refers to any of the following: (1) A school corporation located in a county in which distributions of property tax revenue for 2007 or 2008 to the taxing units (as defined in IC 6-1.1-1-21) of the county: (A) have no…

Sec. 3. (a) An eligible school corporation may apply to the board for a loan from the counter-cyclical revenue and economic stabilization fund. (b) Subject to subsections (c) and (d) and section 3.5 of this chapter, an eligible school corporation described in section 2(2) of this…

Sec. 3.5. The board may not approve a loan under this chapter after December 31, 2017. As added by P.L.145-2012, SEC.18.

Sec. 4. (a) The board, after review by the budget committee, shall determine the terms of any loan made under this chapter. The interest rate on the loan is the interest rate established by the commissioner of the department of state revenue under IC 6-8.1-10-1 minus two percent …