Effects on levy excess funds

Official textiga.in.govlast amended 2008

Sec. 5. The proceeds of a loan received by an eligible school corporation under this chapter are not considered to be part of the ad valorem property tax levy actually collected by the eligible school corporation for taxes first due and payable during a particular calendar year for the purpose of calculating levy excess.
As added by P.L.131-2008, SEC.5.

Amendment history

As added by P.L.131-2008, SEC.5.

Source: view the official text

Nearby sections (25 sections)

6-1.1-21.2-16 · Adjustment for tax benefit
6-1.1-21.3-1 · "Board", "qualified taxing unit", and "qualifying…
6-1.1-21.3-2 · Qualifying taxing unit may apply to board for loan
6-1.1-21.3-3 · Determination of terms of loan by board; loan conditions;
6-1.1-21.3-4 · Certain amounts not considered for determination of levy
6-1.1-21.3-5 · Loan not bonded indebtedness
6-1.1-21.4-0.5 · "ADM"
6-1.1-21.4-1 · "Board"
6-1.1-21.4-2 · "Eligible school corporation"
6-1.1-21.4-3 · Eligible school corporation; maximum loan; loan terms
6-1.1-21.4-3.5 · Termination of authority to make loans
6-1.1-21.4-4 · Board determination of loan amount; disbursement of…
6-1.1-21.4-5 · Effects on levy excess funds
6-1.1-21.4-6 · Loan is not bonded indebtedness
6-1.1-21.4-7 · Failure to repay loan
6-1.1-21.5-1 · "Qualified taxing unit"
6-1.1-21.5-2 · "Board"
6-1.1-21.5-3 · Loan application; prerequisites to grant of loan
6-1.1-21.5-4 · Maximum amount of loan
6-1.1-21.5-5 · Terms of loan; interest; repayment; depository
6-1.1-21.5-6 · Loan proceeds and delinquent tax payments; levy excess
6-1.1-21-5 · (before its repeal) in respect to such taxes is considered…
6-1.1-21.8-1 · "Board" defined
6-1.1-21.8-2 · "Qualified taxing unit"
6-1.1-21.8-3 · Loan application; prerequisites to grant of loan

Full table of contents →