Sec. 15. (a) This section applies only to Miami County.

     (b) Miami County possesses unique economic development challenges due to:

(1) underemployment in relation to similarly situated counties; and

(2) the presence of a United States government military base or other military installation that is completely or partially inactive or closed.

Maintaining low property tax rates is essential to economic development, and the use of a tax under this section to carry out the purposes of this section rather than use of property taxes promotes these purposes.

     (c) The county fiscal body may impose a tax rate on the adjusted gross income of local taxpayers that is the lesser of the following:

(1) Twenty-five hundredths percent (0.25%).

(2) The rate necessary to pay the costs of financing, constructing, acquiring, renovating, equipping, operating, and maintaining a county jail.

     (d) Revenue raised from a tax imposed under this section may be used only for the purposes of paying the costs of financing, constructing, acquiring, renovating, equipping, operating, and maintaining a county jail, including the repayment of bonds issued, or leases entered into, for financing, constructing, acquiring, renovating, and equipping a county jail.

As added by P.L.243-2015, SEC.10. Amended by P.L.255-2017, SEC.26.