Sec. 15.5. (a) This section applies only if the county and city do not spend money from the county or city food and beverage tax receipts fund as required by sections 14(c) and 15(c) of this chapter.

     (b) The ordinance adopted under section 5 of this chapter to impose the food and beverage tax is void and food and beverage tax revenue may not be collected after June 30, 2025. The county may not adopt a new ordinance under section 5 of this chapter after June 30, 2025.

     (c) The following apply to the distribution of the unexpended money in the county food and beverage tax receipts fund and city food and beverage tax receipts fund:

(1) The:

(A) county treasurer shall certify to the county auditor the balance in the county food and beverage tax receipts fund; and

(B) city fiscal officer shall certify to the county auditor the balance in the city food and beverage tax receipts fund.

(2) After the county auditor receives the certified fund balances under subdivision (1), the county auditor shall distribute, before October 1, 2025, the money in each fund according to the ratio that the maximum permissible ad valorem property tax levy under IC 6-1.1-18.5 for property taxes first due and payable in 2025 for each taxing unit in the county bears to the sum of all maximum permissible ad valorem property tax levies under IC 6-1.1-18.5 for property tax first due and payable in 2025 in the county.

As added by P.L.236-2023, SEC.107.