Sec. 5. (a) In each state
fiscal year beginning after June 30, 2023, the city of Gary shall transfer up to three million dollars ($3,000,000) to the development authority for deposit in the
fund.
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Terms Used In Indiana Code 36-7.5-6-5
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- fund: refers to the blighted property demolition fund established by section 4 of this chapter. See Indiana Code 36-7.5-6-2
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(c) After June 30, 2025, but not later than July 1, 2026, the development authority shall be reimbursed for all amounts deposited under subsection (b) using money in the fund. Budget committee review is not required for reimbursement under this subsection.
As added by P.L.195-2023, SEC.6.
