Indiana Code — Title 6 (Taxation)
IC 6-1.1-21.8-3
Loan application; prerequisites to grant of loan
Sec. 3. A qualified taxing unit may apply to the board for one (1) or more loans from the counter-cyclical revenue and economic stabilization fund. The board may make a loan from the fund to the qualified 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) or more 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.
As added by P.L.157-2002, SEC.1.
Amendment history
As added by P.L.157-2002, SEC.1.
Source: view the official text
Nearby sections (25 sections)
- 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
- 6-1.1-21.8-4 · Loan terms; repayment schedule
- 6-1.1-21.8-5 · Maximum loan amount for a particular qualified taxing…
- 6-1.1-21.8-6 · "Delinquent tax"; loan proceeds and delinquent tax…
- 6-1.1-21.9-1 · Definitions
- 6-1.1-21.9-2 · Qualified taxing unit
- 6-1.1-21.9-3 · Board determines terms of loan and disburses…
- 6-1.1-21.9-4 · Effects on levy excess funds; effects of receipt of…
- 6-1.1-21.9-5 · Loan is not bonded indebtedness
- 6-1.1-22-1 · "Personal property" defined
- 6-1.1-22-2 · Description of real property; sufficiency
- 6-1.1-22-3 · Tax duplicate; contents; maintenance; delivery
- 6-1.1-22-4 · Notice of tax rate