Indiana Code — Title 6 (Taxation)
IC 6-3.6-9-21
Budget agency accounting for each county based on annual tax
returns; undistributed amounts held in state and local income tax holding account; transfer and distribution of amounts Effective 7-1-2027.
Sec. 21. (a) The budget agency shall maintain an accounting for each county imposing a tax based on annual returns filed by or for county taxpayers. Beginning after December 31, 2027, any undistributed amounts so accounted shall be held for purposes of the state and local income tax holding account.
(b) After December 1 but before December 31 of each year, the budget agency shall present to the budget committee a report of the following:
# (1)
An estimate of the monthly certified distribution amounts for the immediately succeeding calendar year.
# (2)
A description of the method used to determine the monthly estimates under subdivision (1).
(c) Beginning in 2028, and in each calendar year thereafter, the budget agency shall each month transfer to the state and local income tax holding account the amount determined for the month under subsection (b)(1) for distribution under this chapter.
(d) In the case of a county that imposes a tax rate under IC 6-3.6-6-2 or a municipality that imposes a tax rate under IC 6-3.6-6-22 beginning after December 31, 2027, the budget agency shall withhold, from each of the first three (3) annual certified distributions resulting from the tax rate, an amount equal to five percent (5%) of the county's or municipality's, as applicable, annual certified distribution resulting from the tax rate. The amounts withheld under this subsection shall be credited to the respective county's or municipality's trust account.
As added by P.L.68-2025, SEC.173.
Amendment history
As added by P.L.68-2025, SEC.173.
Source: view the official text
Nearby sections (25 sections)
- 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…
- 6-3.6-11-2 · Repealed