Indiana Code — Title 6 (Taxation)
IC 6-3.6-9-20
State and local income tax holding account
Effective 7-1-2027.
Sec. 20. (a) The state and local income tax holding account is established within the state general fund for the purposes of this chapter. The budget agency shall administer the account.
The account consists of the following:
# (1)
Money transferred to the account under section 21 of this chapter.
# (2)
Money transferred to the account from any other source.
# (3)
Interest that accrues from money in the account.
(b) The treasurer of state shall invest the money in the account not currently needed for the purposes of the account in the same manner as other public funds may be invested.
(c) Money in the account is continuously appropriated for the purposes of this chapter.
(d) Money in the account at the end of a state fiscal year does not revert to the state general fund.
(e) Money transferred to the account shall be distributed and allocated as set forth in this
chapter.
(f) The budget director shall have the discretion to manage transfers of money into and out of the account based on the current process used for continuous assessment of revenue flows and reconciliation based on the latest data.
As added by P.L.68-2025, SEC.172.
Amendment history
As added by P.L.68-2025, SEC.172.
Source: view the official text
Nearby sections (25 sections)
- 6-3.6-9-10 · Certification of additional information; part of the…
- 6-3.6-9-11 · Deadline for summary of calculations; certification of
- 6-3.6-9-12 · Trust account; monthly distributions
- 6-3.6-9-13 · Trust account; manner of distributions; warrants
- 6-3.6-9-14 · Trust account; report of account balance
- 6-3.6-9-15 · Trust account; excess balance; supplemental distribution;
- 6-3.6-9-16 · Allocation and distribution of a county's monthly payment…
- 6-3.6-9-17 · Special distribution; permitted expenditures
- 6-3.6-9-17.5 · Certified distribution; accounting and transfer…
- 6-3.6-9-17.6 · General fund funds restrictions; reserve account;…
- 6-3.6-9-18 · Expired
- 6-3.6-9-19 · Annual report to each county
- 6-3.6-9-20 · State and local income tax holding account
- 6-3.6-9-21 · Budget agency accounting for each county based on annual…
- 6-3.6-10-1 · Scope of chapter
- 6-3.6-10-2 · Economic development purposes; use of revenue
- 6-3.6-10-3 · Issuance of bonds for economic development projects;
- 6-3.6-10-4 · Lease of property for economic development projects;
- 6-3.6-10-5 · Issuance and sale of obligations of civil taxing unit or…
- 6-3.6-10-6 · Pledge of revenues; enforceability; covenant by the general
- 6-3.6-10-7 · Regional venture capital fund; deposit of revenue…
- 6-3.6-10-8 · Local venture capital fund; deposit of revenue allocated…
- 6-3.6-10-9 · Limitations on bonds, leases, or other obligations incurred
- 6-3.6-11-1 · Applicability; use of former tax to provide levy freeze;…
- 6-3.6-11-1.5 · Marion County; transfers to bid fund of capital…