Indiana Code — Title 6 (Taxation)
IC 6-9-35-12
Tax revenue distributions
Sec. 12.
# (a)
As long as there are any current or future obligations owed by the capital improvement board to the authority or any state agency under a lease or other agreement entered into between the capital improvement board and the authority or any state agency pursuant to IC 5-1-17-26, fifty percent (50%) of the amounts received from the taxes imposed under this chapter by counties shall be paid monthly by the county treasurer, if the tax is being paid to the county treasurer, to the treasurer of state. This amount plus fifty percent (50%) of the amounts received by the state from the taxes imposed under this chapter by counties shall be paid monthly by the treasurer of state to the treasurer of the capital improvement board or its designee upon warrants issued by the state comptroller. The remainder that is received by the state shall be paid monthly by the treasurer of state to the county fiscal officer upon warrants issued by the state comptroller. In any state fiscal year, if the total amount of the taxes imposed under this chapter by all the counties and paid to the treasurer of the capital improvement board or its designee under this subsection equals five million dollars ($5,000,000), the entire remainder of the taxes imposed by a county under this chapter during that state fiscal year shall be retained by the county treasurer or paid by the treasurer of state to the fiscal officer of the county, upon warrants issued by the state comptroller.
# (b)
If there are then existing no obligations of the capital improvement board described in subsection (a), the entire amount received from the taxes imposed by a county under this chapter shall be paid monthly by the treasurer of state to the county fiscal officer upon warrants issued by the state comptroller.
# (c)
The entire amount of the taxes paid to the treasurer of the capital improvement board or its designee under subsection (a) shall be deposited in a special fund and used only for the payment or to secure the payment of obligations of the capital improvement board described in subsection (a). If the taxes are not used for the payment or to secure the payment of obligations of the capital improvement board described in subsection (a), the taxes shall be returned by the capital improvement board to the treasurer of state who shall return the taxes to the respective counties that contributed the taxes.
# (d)
The entire amount received from the taxes imposed by a municipality under this chapter shall be paid monthly by the treasurer of state to the municipality's fiscal officer upon warrants issued by the state comptroller.
As added by P.L.214-2005, SEC.44. Amended by P.L.9-2024, SEC.247.
Amendment history
As added by P.L.214-2005, SEC.44. Amended by P.L.9-2024, SEC.247.
Source: view the official text
Nearby sections (25 sections)
- 6-9-34-7 · Covenant of general assembly; impairment of bonds
- 6-9-35-1 · Application of chapter
- 6-9-35-2 · Application of definitions
- 6-9-35-3 · "Authority"
- 6-9-35-4 · "Capital improvement board"
- 6-9-35-5 · Imposition; deadline; rate; conditions; ordinance
- 6-9-35-6 · Transmission of ordinance to state
- 6-9-35-7 · Application to transactions
- 6-9-35-8 · Transactions taxed
- 6-9-35-9 · Transactions taxed
- 6-9-35-10 · Transactions exempt
- 6-9-35-11 · Collection and payment; returns
- 6-9-35-12 · Tax revenue distributions
- 6-9-35-13 · Food and beverage tax fund; deposits
- 6-9-35-14 · Food and beverage tax fund; uses
- 6-9-35-15 · Tax repeal; ordinance
- 6-9-35-16 · Payment of obligations; covenant with holders
- 6-9-36-1 · Application of chapter
- 6-9-36-2 · Application of definitions
- 6-9-36-3 · Imposition of tax; rescission of tax; ordinances;…
- 6-9-36-4 · Transactions taxed
- 6-9-36-5 · Transactions taxed
- 6-9-36-6 · Transactions exempt
- 6-9-36-7 · Collection and payment; returns
- 6-9-36-8 · Distribution of revenue