Indiana Code 20-45-8-21. Eligibility for distribution; required minimum levy
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Terms Used In Indiana Code 20-45-8-21
- 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: means the county school distribution fund:
Indiana Code 20-45-8-6
- qualified school corporation: means a school corporation that has under its jurisdiction any territory that is located in the qualified county. See Indiana Code 20-45-8-10
- tax: means the county supplemental school financing property tax to be levied by the board of county commissioners of a qualifying county under this chapter. See Indiana Code 20-45-8-12
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 21. To qualify to receive any of the receipts of a tax levy, a qualified school corporation must levy against the assessed valuation of the qualified school corporation a total school tax rate sufficient to generate an amount equal to the amount of revenues deposited in the fund in calendar year 1979.
[Pre-2006 Recodification Citation: 21-2-13-6.]
As added by P.L.2-2006, SEC.168.