Sec. 1329. (a) A unit imposing an impact fee shall establish a fund to receive amounts collected under this series.

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Terms Used In Indiana Code 36-7-4-1329

  • 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.
     (b) Money in a fund established under subsection (a) at the end of the unit’s fiscal year remains in the fund. Interest earned by the fund shall be deposited in the fund.

     (c) The fiscal officer of the unit shall manage the fund according to the provisions of this series. The fiscal officer shall annually report to the unit’s plan commission and to each infrastructure agency responsible for infrastructure in an impact zone. The report must include the following:

(1) The amount of money in accounts established for the impact zone.

(2) The total receipts and disbursements of the accounts established for the impact zone.

     (d) A separate account shall be established in the fund for each impact zone established by the unit and for each infrastructure type within each zone. Interest earned by an account shall be deposited in that account.

As added by P.L.221-1991, SEC.30.

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