Indiana Code 5-28-9-16. Revenue to pay annual loan installment and interest; levy of tax
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Terms Used In Indiana Code 5-28-9-16
- qualified entity: means a city, a town, a county, an economic development commission, or a special taxing district. See Indiana Code 5-28-9-6
- Statute: A law passed by a legislature.
Sec. 16. A qualified entity receiving a loan under this chapter may levy an annual tax on personal and real property located within the qualified entity’s geographical limits for industrial development purposes, in addition to any other tax authorized by statute to be levied for such purposes, at a rate that will produce sufficient revenue to pay the annual installment and interest on a loan made under this chapter. The tax may be in addition to the maximum annual rates prescribed by IC 6-1.1-18, IC 6-1.1-18.5, and other statutes.
As added by P.L.4-2005, SEC.34. Amended by P.L.2-2006, SEC.34; P.L.146-2008, SEC.40.