Indiana Code 36-8-7-9.5. Use of certain amounts in 1937 fund
(1) accrued from property taxes;
Terms Used In Indiana Code 36-8-7-9.5
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) is determined under subsection (c).
(b) A local board may authorize the use of money in the 1937 fund to pay any or all of the following:
(1) The costs of health insurance or other health benefits provided to members, survivors, and beneficiaries of the 1937 fund.
(2) The unit’s employer contributions under IC 36-8-8-6.
(3) The contributions paid by the unit for a member under IC 36-8-8-8(a).
(c) The maximum amount that may be used under subsection (b) is equal to the sum of the following:
(1) the unencumbered balance of the 1937 fund on December 31, 2008; plus
(2) the amount of property taxes:
(A) imposed for an assessment date before January 16, 2008, for the benefit of the 1937 fund; and
(B) deposited in the 1937 fund after December 31, 2008.
As added by P.L.182-2009(ss), SEC.430.