Indiana Code 6-1.1-41-2. Authorization of fund and tax levies
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Sec. 2. (a) In addition to complying with the budget, tax rate, and tax levy requirements applicable to other tax levies, a political subdivision may:
(2) increase the tax rate for a cumulative fund;
(1) establish a cumulative fund and impose a property tax for the cumulative fund; or
Terms Used In Indiana Code 6-1.1-41-2
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
only after the proposal is adopted and approved in compliance with this chapter.
(b) If a cumulative fund is not established and the tax rate is not certified in conformity with this chapter, the political subdivision may not levy a tax for the fund in the ensuing year. If a cumulative fund that has been established in a prior year is not reestablished and the tax rate is not certified in conformity with this chapter, the political subdivision may not increase a tax rate for the cumulative fund for the ensuing year.
As added by P.L.17-1995, SEC.6. Amended by P.L.38-2021, SEC.38.