Indiana Code — Title 6 (Taxation)
IC 6-3.6-7-3
Permitted purposes for special purpose rates; repayment of
bonds or leases; balance transfer to county highway fund
Sec. 3. (a) A separate tax rate is permitted under this chapter for each of the special purposes set forth in this chapter.
(b) The rate permitted under the section in this chapter authorizing the special purpose tax rate may include a rate to repay bonds issued or leases entered into for the special purpose. However, for a bond or lease entered into after December 31, 2015, the term of the bonds issued (including any refunding bonds) or a lease entered into under this section may not exceed twenty (20) years, unless the section in this chapter authorizing the special purpose tax rate specifies a different term. The adopting body shall provide a notice to the budget agency, the department of local government finance, and the department of state revenue specifying that the date for the termination of the tax rate has occurred.
(c) If the section in this chapter authorizing the special purpose tax rate does not specify what to do with money accumulated from the tax after:
# (1)
the redemption of bonds issued; or
# (2)
the final payment of lease rentals due under a lease entered into under this section;
the money accumulated shall be transferred to the county highway fund to be used for construction, resurfacing, restoration, and rehabilitation of county highways, roads, and bridges.
As added by P.L.243-2015, SEC.10. Amended by P.L.197-2016, SEC.57.
Amendment history
As added by P.L.243-2015, SEC.10. Amended by P.L.197-2016, SEC.57.
Source: view the official text
Nearby sections (25 sections)
- 6-3.6-6-16 · Marion County; certified shares; supplemental allocation…
- 6-3.6-6-17 · Certified shares; uses
- 6-3.6-6-18 · Pledge of certified shares; payment of bonds; lease…
- 6-3.6-6-19 · Authorization for a civil taxing unit to distribute its…
- 6-3.6-6-20 · Allocation or distribution of revenue made on the basis of
- 6-3.6-6-21 · Ability to contribute certified shares to regional…
- 6-3.6-6-21.2 · School corporation allocation of local income tax…
- 6-3.6-6-21.3 · Allocation and distribution of certain revenue; merger of
- 6-3.6-6-22 · Municipal tax rate; applicability
- 6-3.6-6-23 · Determination of population for cities and towns
- 6-3.6-7-1 · Legislative findings; policy
- 6-3.6-7-2 · Authorization; adoption of special purpose tax rate;…
- 6-3.6-7-3 · Permitted purposes for special purpose rates; repayment of
- 6-3.6-7-4 · Procedures for imposition of special purpose rate; findings…
- 6-3.6-7-5 · Revenue from special purpose rate treated as additional
- 6-3.6-7-6 · Separate accounting of revenue; record keeping
- 6-3.6-7-7 · Daviess County; additional rate for county jail facilities;…
- 6-3.6-7-7.5 · Decatur County; additional rate for county jail facilities
- 6-3.6-7-8 · Elkhart County; additional rate for jail and other criminal
- 6-3.6-7-8.5 · Fountain County; additional rate for county jail…
- 6-3.6-7-8.7 · Fulton County; additional rate for jail and related…
- 6-3.6-7-9 · Hancock County; library property taxes; allocation of
- 6-3.6-7-10 · Howard County; additional rate to fund the operation and
- 6-3.6-7-11 · Jackson County; additional rate for jail and juvenile…
- 6-3.6-7-12 · Jasper County; additional rate for criminal justice…