Indiana Code 36-1-8-9.5. “Development agreement”
Current as of: 2023 | Check for updates
|
Other versions
Sec. 9.5. (a) As used in this section, “development agreement” means an agreement between a licensed owner (as defined in IC 4-33-2-13) and a unit setting forth the licensed owner’s financial commitments to support economic development in the unit.
(c) Funds received under a development agreement:
(b) Funds received by a unit under a development agreement are public funds (as defined in IC 5-13-4-20).
Terms Used In Indiana Code 36-1-8-9.5
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) may not be used to reduce the unit’s maximum levy under IC 6-1.1-18.5 but may be used at the discretion of the unit to reduce the property tax levy of the unit for a particular year;
(2) may be used for any legal or corporate purpose of the unit, including the pledge of money to bonds, leases, or other obligations under IC 5-1-14-4; and
(3) are considered miscellaneous revenue.
As added by P.L.199-2005, SEC.29.