Indiana Code — Title 6 (Taxation)
IC 6-1.1-41-2
Authorization of fund and tax levies
Sec. 2. (a) In addition to complying with the budget, tax rate, and tax levy requirements applicable to other tax levies, a political subdivision may:
# (1)
establish a cumulative fund and impose a property tax for the cumulative fund; or
# (2)
increase the tax rate for a cumulative fund;
only after the proposal is adopted and approved in compliance with this chapter.
(b) If a cumulative fund is not established and the tax rate is not certified in conformity with this chapter, the political subdivision may not levy a tax for the fund in the ensuing year.
If a cumulative fund that has been established in a prior year is not reestablished and the tax rate is not certified in conformity with this chapter, the political subdivision may not increase a tax rate for the cumulative fund for the ensuing year.
As added by P.L.17-1995, SEC.6. Amended by P.L.38-2021, SEC.38.
Amendment history
As added by P.L.17-1995, SEC.6. Amended by P.L.38-2021, SEC.38.
Source: view the official text
Nearby sections (25 sections)
- 6-1.1-40-5 · "Redevelopment"
- 6-1.1-40-6 · "Rehabilitation"
- 6-1.1-40-7 · Designation as district
- 6-1.1-40-8 · Description of district; resolution; remonstrance; appeal
- 6-1.1-40-9 · Manufacturing equipment; statement of benefits; review;
- 6-1.1-40-10 · Deduction for manufacturing equipment
- 6-1.1-40-11 · Application for deduction; review; change of ownership
- 6-1.1-40-12 · Additional application information; compliance with…
- 6-1.1-40-13 · Benefit performance waiver certificate
- 6-1.1-40-14 · Correction of deduction errors
- 6-1.1-40-15 · Expiration of chapter
- 6-1.1-41-1 · Application of chapter
- 6-1.1-41-2 · Authorization of fund and tax levies
- 6-1.1-41-3 · Notice of proposal; hearing
- 6-1.1-41-4 · Submission of proposal to department of local government
- 6-1.1-41-5 · Repealed
- 6-1.1-41-6 · Objections to establishment of fund or increase in tax rate
- 6-1.1-41-7 · Hearing on objections
- 6-1.1-41-8 · Notice of hearing
- 6-1.1-41-9 · Department of local government finance action on proposal;
- 6-1.1-41-10 · Imposition of tax levy to provide for fund
- 6-1.1-41-11 · Reduction or rescission of annual levy
- 6-1.1-41-12 · Petition for reduction or revision of fund levy
- 6-1.1-41-13 · Property tax levy
- 6-1.1-41-14 · Earmarking of levied tax funds; expenditures