Indiana Code 36-7.5-4-16.5. Failure of certain cities or counties to make a transfer; duties of state treasurer; deduction of amounts payable to city or county; payment to development authority
(1) Finds that a city or county described in IC 36-7.5-2-3 has, at any time before July 1, 2015, failed to make a transfer or a part of a transfer required by section 2 of this chapter.
Terms Used In Indiana Code 36-7.5-4-16.5
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(3) Certifies to the treasurer of state the total amount of the arrearage attributable to the failure of the city or county to make a transfer or a part of a transfer required by section 2 of this chapter.
(b) The treasurer of state shall do the following:
(1) Deduct from amounts otherwise payable to the city under IC 4-33-13-5(a) or to the county under IC 4-33-12-6 an amount equal to:
(A) the total amount certified under subsection (a)(3); plus
(B) interest calculated in the same manner that interest on delinquent taxes is calculated under IC 6-8.1-10-1.
(2) Pay the amount deducted under subdivision (1) to the development authority.
As added by P.L.192-2015, SEC.16. Amended by P.L.149-2016, SEC.99.