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Indiana Code — Title 6 (Taxation)

IC 6-3.6-10-2

Economic development purposes; use of revenue

Official textiga.in.govlast amended 12 subsections

Note: This version of section effective 1-1-2028. See also preceding version of this section, effective until 1-1-2028.
Sec. 2. A county, city, or town may use revenue allocated for economic development purposes under IC 6-3.6-6 for any combination of the following purposes:

# (1)

To pay all or a part of the interest owed by a private developer or user on a loan extended by a financial institution or other lender to the developer or user if the proceeds of the loan are or are to be used to finance an economic development project.

# (2)

For the retirement of bonds for economic development projects.

# (3)

For leases or for leases or bonds entered into or issued before the date the county economic development income tax (IC 6-3.5-7 repealed) was imposed if the purpose of the lease or bonds would have qualified as a purpose under this article at the time the lease was entered into or the bonds were issued.

# (4)

The construction or acquisition of, or remedial action with respect to, a capital project for which the unit is empowered to issue general obligation bonds or establish a fund under any statute listed in IC 6-1.1-18.5-9.8.

# (5)

The retirement of bonds issued under any provision of Indiana law for a capital project.

# (6)

The payment of lease rentals under any statute for a capital project.

# (7)

Contract payments to a nonprofit corporation whose primary corporate purpose is to assist government in planning and implementing economic development projects.

# (8)

Operating expenses of a governmental entity that plans or implements economic development projects.

# (9)

Funding of a revolving fund established under IC 5-1-14-14.

# (10)

For a regional venture capital fund or a local venture capital fund.

# (11)

For any lawful purpose for which money in any of its other funds may be used.
As added by P.L.243-2015, SEC.10. Amended by P.L.247-2017, SEC.23; P.L.68-2025, SEC.174.

Amendment history

As added by P.L.243-2015, SEC.10. Amended by P.L.247-2017, SEC.23; P.L.68-2025, SEC.174.

Source: view the official text

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Nearby sections (25 sections)
  1. 6-3.6-9-13 · Trust account; manner of distributions; warrants
  2. 6-3.6-9-14 · Trust account; report of account balance
  3. 6-3.6-9-15 · Trust account; excess balance; supplemental distribution;
  4. 6-3.6-9-16 · Allocation and distribution of a county's monthly payment…
  5. 6-3.6-9-17 · Special distribution; permitted expenditures
  6. 6-3.6-9-17.5 · Certified distribution; accounting and transfer…
  7. 6-3.6-9-17.6 · General fund funds restrictions; reserve account;…
  8. 6-3.6-9-18 · Expired
  9. 6-3.6-9-19 · Annual report to each county
  10. 6-3.6-9-20 · State and local income tax holding account
  11. 6-3.6-9-21 · Budget agency accounting for each county based on annual…
  12. 6-3.6-10-1 · Scope of chapter
  13. 6-3.6-10-2 · Economic development purposes; use of revenue
  14. 6-3.6-10-3 · Issuance of bonds for economic development projects;
  15. 6-3.6-10-4 · Lease of property for economic development projects;
  16. 6-3.6-10-5 · Issuance and sale of obligations of civil taxing unit or…
  17. 6-3.6-10-6 · Pledge of revenues; enforceability; covenant by the general
  18. 6-3.6-10-7 · Regional venture capital fund; deposit of revenue…
  19. 6-3.6-10-8 · Local venture capital fund; deposit of revenue allocated…
  20. 6-3.6-10-9 · Limitations on bonds, leases, or other obligations incurred
  21. 6-3.6-11-1 · Applicability; use of former tax to provide levy freeze;…
  22. 6-3.6-11-1.5 · Marion County; transfers to bid fund of capital…
  23. 6-3.6-11-2 · Repealed
  24. 6-3.6-11-3 · Lake County; former tax categorized under property tax…
  25. 6-3.6-11-4 · Revenue dedicated to public safety; used for funding of
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