Indiana Code 6-1.1-22.1-7. Requirement to repay loans
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Terms Used In Indiana Code 6-1.1-22.1-7
- 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
Sec. 7. If a qualified taxing unit receives a loan under this chapter, the qualified taxing unit must repay the loan within twenty-five (25) years after the date on which the loan is made. No penalty may be imposed for repaying a loan under this chapter before the term of the loan expires.
As added by P.L.236-2023, SEC.43.