Sec. 5. The fiscal body of an adopting municipality may adopt an ordinance to increase or decrease the surtax amount. The new surtax amount must be within the range of amounts prescribed by section 2 of this chapter. A new amount that is established by an ordinance that is adopted after December 31 but on or before September 1 of the following year applies to motor vehicles registered after December 31 of the year in which the ordinance to change the amount is adopted. A new amount that is established by an ordinance that is adopted after September 1 but before January 1 of the following year applies to motor vehicles registered after December 31 of the year following the year in which the ordinance is adopted. However, in the first year the surtax amount is effective, the surtax amount does not apply to the registration of a vehicle for the registration year that commenced in the calendar year preceding the year the surtax amount is first effective.

As added by P.L.146-2016, SEC.11. Amended by P.L.218-2017, SEC.26; P.L.111-2021, SEC.5.