Indiana Code 6-3.6-6-21.3. Allocation and distribution of certain revenue; merger of school corporations or civil taxing units
(1) does not apply to:
Terms Used In Indiana Code 6-3.6-6-21.3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
(B) distributions of revenue under section 9 of this chapter; and
(2) applies only to the following:
(A) Any allocation or distribution of revenue under section 3(a)(2) of this chapter that is made on the basis of property tax levies in counties that formerly imposed a tax under IC 6-3.5-1.1 (before its repeal on January 1, 2017).
(B) Any allocation or distribution of revenue under section 3(a)(3) of this chapter that is made on the basis of property tax levies in counties that formerly imposed a tax under IC 6-3.5-6 (before its repeal on January 1, 2017).
(b) Subject to subsection (a), if two (2) or more:
(1) school corporations; or
(2) civil taxing units;
of an adopting county merge or consolidate to form a single school corporation or civil taxing unit, the school corporation or civil taxing unit that is in existence on January 1 of the current year is entitled to the combined pro rata distribution of the revenue under section 3(a)(2) or 3(a)(3) of this chapter (as appropriate) allocated to each applicable school corporation or civil taxing unit in existence on January 1 of the immediately preceding calendar year prior to the merger or consolidation.
(c) The department of local government finance shall make adjustments to civil taxing units in accordance with IC 6-1.1-18.5-7.
As added by P.L.137-2024, SEC.10.