§ 20-44-3-1 “Fund”
§ 20-44-3-2 “Levy excess” defined; limitation
§ 20-44-3-3 Validity; levy excess
§ 20-44-3-4 Required deposit of levy excess; levy excess fund
§ 20-44-3-5 Inclusion of balance in budget
§ 20-44-3-6 Expenditure after appropriation; reduction of maximum levy
§ 20-44-3-7 Transfer between funds
§ 20-44-3-9 Minimum balance
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Terms Used In Indiana Code > Title 20 > Article 44 > Chapter 3 - Application of Levy Excess to Reduce Property Taxes

  • 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.
  • fund: refers to a levy excess fund established under IC 20-40-10-2. See Indiana Code 20-44-3-1
  • levy excess: means that part of the property tax levy actually collected by a school corporation for taxes first due and payable during a particular calendar year that exceeds the school corporation's total levy, as approved by the department of local government finance under Indiana Code 20-44-3-2
  • 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