Indiana Code 6-3.6-6-2.7. Tax rate for correctional and rehabilitation facilities; adoption of ordinance by county fiscal body; distribution of revenue; use of tax revenue for operating expenses
(1) in the case of a county with bonds or lease agreements outstanding on July 1, 2023, for which a pledge of tax revenue from revenue received under a tax rate imposed under this section is made, one-hundredth of one percent (0.01%) and may not exceed three-tenths of one percent (0.3%); and
Terms Used In Indiana Code 6-3.6-6-2.7
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
Not more than an amount equal to the amount of revenue that is attributable to two-tenths of one percent (0.2%) of a tax rate imposed under this section may be used for operating expenses for correctional facilities and rehabilitation facilities in the county.
(b) The tax rate imposed under this section may not be in effect for more than:
(1) twenty-two (22) years, in the case of a tax rate imposed in an ordinance adopted before January 1, 2019; or
(2) twenty-five (25) years, in the case of a tax rate imposed in an ordinance adopted on or after January 1, 2019.
(c) The revenue generated by a tax rate imposed under this section must be distributed directly to the county before the remainder of the expenditure rate revenue is distributed. The revenue shall be maintained in a separate dedicated county fund and used by the county only for paying for correctional facilities and rehabilitation facilities in the county.
As added by P.L.184-2018, SEC.2. Amended by P.L.257-2019, SEC.70; P.L.137-2022, SEC.53; P.L.236-2023, SEC.79.