Indiana Code 6-1.1-22.1-12. Loan proceeds; not considered part of ad valorem property tax levy actually collected
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Terms Used In Indiana Code 6-1.1-22.1-12
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- qualified taxing unit: means a city, township, or school corporation located in Lake County that experienced a property tax revenue shortfall in one (1) or more tax years:
Indiana Code 6-1.1-22.1-2
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 12. The proceeds of a loan under this chapter received by an eligible taxing unit are not considered to be part of the ad valorem property tax levy actually collected by the qualified taxing unit for taxes first due and payable during a particular calendar year for the purpose of calculating levy excess.
As added by P.L.236-2023, SEC.43.