Indiana Code 20-44-3-4. Required deposit of levy excess; levy excess fund
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Terms Used In Indiana Code 20-44-3-4
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- fund: refers to a levy excess fund established under IC 20-40-10-2. See Indiana Code 20-44-3-1
- levy excess: means that part of the property tax levy actually collected by a school corporation for taxes first due and payable during a particular calendar year that exceeds the school corporation's total levy, as approved by the department of local government finance under Indiana Code 20-44-3-2
Sec. 4. Except as provided in section 9 of this chapter, a school corporation shall deposit its levy excess in a fund to be known as the school corporation’s levy excess fund.
[Pre-2006 Recodification Citation: 6-1.1-19-1.7(b) part.]
As added by P.L.2-2006, SEC.167.