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Indiana Code — Title 6 (Taxation)

IC 6-1.1-21.5-3

Loan application; prerequisites to grant of loan

Official textiga.in.govlast amended

Sec. 3. Before January 1, 2002, a qualified taxing unit may apply to the board for a loan from the counter-cyclical revenue and economic stabilization fund. The board may make a loan from the fund to the taxing unit if:

# (1)

a taxpayer with tangible property subject to taxation by the qualified taxing unit has filed a petition to reorganize under the federal bankruptcy code;

# (2)

the taxpayer has defaulted on one (1) of its property tax payments;

# (3)

the qualified taxing unit has experienced and will continue to experience a significant revenue shortfall as a result of the default; and

# (4)

the taxpayer is a steel manufacturer that owns at least eighteen percent (18%) of the assessed value within the taxing unit.
As added by P.L.380-1987(ss), SEC.5. Amended by P.L.291-2001, SEC.207.

Amendment history

As added by P.L.380-1987(ss), SEC.5. Amended by P.L.291-2001, SEC.207.

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Nearby sections (25 sections)
  1. 6-1.1-21.3-5 · Loan not bonded indebtedness
  2. 6-1.1-21.4-0.5 · "ADM"
  3. 6-1.1-21.4-1 · "Board"
  4. 6-1.1-21.4-2 · "Eligible school corporation"
  5. 6-1.1-21.4-3 · Eligible school corporation; maximum loan; loan terms
  6. 6-1.1-21.4-3.5 · Termination of authority to make loans
  7. 6-1.1-21.4-4 · Board determination of loan amount; disbursement of…
  8. 6-1.1-21.4-5 · Effects on levy excess funds
  9. 6-1.1-21.4-6 · Loan is not bonded indebtedness
  10. 6-1.1-21.4-7 · Failure to repay loan
  11. 6-1.1-21.5-1 · "Qualified taxing unit"
  12. 6-1.1-21.5-2 · "Board"
  13. 6-1.1-21.5-3 · Loan application; prerequisites to grant of loan
  14. 6-1.1-21.5-4 · Maximum amount of loan
  15. 6-1.1-21.5-5 · Terms of loan; interest; repayment; depository
  16. 6-1.1-21.5-6 · Loan proceeds and delinquent tax payments; levy excess
  17. 6-1.1-21-5 · (before its repeal) in respect to such taxes is considered…
  18. 6-1.1-21.8-1 · "Board" defined
  19. 6-1.1-21.8-2 · "Qualified taxing unit"
  20. 6-1.1-21.8-3 · Loan application; prerequisites to grant of loan
  21. 6-1.1-21.8-4 · Loan terms; repayment schedule
  22. 6-1.1-21.8-5 · Maximum loan amount for a particular qualified taxing…
  23. 6-1.1-21.8-6 · "Delinquent tax"; loan proceeds and delinquent tax…
  24. 6-1.1-21.9-1 · Definitions
  25. 6-1.1-21.9-2 · Qualified taxing unit
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