Indiana Code 20-45-9-3. Levy
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Terms Used In Indiana Code 20-45-9-3
- 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
- qualified school corporation: means a school corporation that has under its jurisdiction any territory located in Dearborn County. See Indiana Code 20-45-9-2
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 3. A qualified school corporation‘s property tax levy under this chapter for a calendar year is a property tax levy for the qualified school corporation‘s operations fund equal to the amount of the distribution that the qualified school corporation received in the year preceding the expiration of IC 20-45-8 under IC 20-45-8-29(a). The property tax levy under this chapter is part of the maximum permissible ad valorem property tax levy under IC 20-46-8-1 for the qualified school corporation’s operations fund.
As added by P.L.236-2023, SEC.153.