Indiana Code 36-7-26-12. “Net increment” defined
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Sec. 12. As used in this chapter, “net increment” means, for a particular state fiscal year, the product of:
(2) the adjustment factor.
(1) the gross increment for the state fiscal year ending in the year of the determination; multiplied by
Terms Used In Indiana Code 36-7-26-12
- adjustment factor: means the amount, stated as a percentage, that the board determines under section 22 of this chapter should be applied in determining the district's net increment. See Indiana Code 36-7-26-3
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- gross increment: means the aggregate amount of state gross retail and use taxes that are remitted under Indiana Code 36-7-26-10
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
As added by P.L.35-1990, SEC.63.