Indiana Code 6-1.1-18.5-21. Civil taxing unit’s determination that levy limits do not apply to taxes to repay certain rainy day fund loans
(1) IC 6-1.1-21.3.
Terms Used In Indiana Code 6-1.1-18.5-21
- Civil taxing unit: means any taxing unit except a school corporation. See Indiana Code 6-1.1-18.5-1
- 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.
- 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
(b) This subsection applies to a civil taxing unit or school corporation located in Lake County that has received or is receiving a loan under IC 6-1.1-22.1. The ad valorem property tax levy limits imposed in section 3 of this chapter do not apply to all or part of the ad valorem property taxes imposed to repay a loan under IC 6-1.1-22.1 for the ensuing calendar year if:
(1) the civil taxing unit or school corporation provides to the department the information the department considers necessary to determine the amount of ad valorem property taxes imposed to repay the loan in the ensuing calendar year; and
(2) the information described in subdivision (1) is provided to the department not later than December 1 of the year preceding the ensuing calendar year.
As added by P.L.114-2006, SEC.1. Amended by P.L.182-2009(ss), SEC.138; P.L.236-2023, SEC.31.