Sec. 11. (a) This chapter does not apply to a qualified school corporation until the expiration of IC 20-45-8 under IC 20-45-8-29(a).

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Terms Used In Indiana Code 20-46-8-11

  • 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) As used in this section, “qualified school corporation” has the meaning set forth in IC 20-45-9-2.

     (c) The property tax levy limits imposed by section 1 of this chapter do not apply to property taxes imposed by a qualified school corporation under IC 20-45-9.

     (d) For the purpose of computing the maximum permissible operations fund property tax levy imposed on a qualified school corporation by section 1 of this chapter, the qualified school corporation’s maximum permissible operations fund levy for a particular year does not include that part of the levy described in subsection (c).

As added by P.L.236-2023, SEC.155.

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