2017 Indiana Code
TITLE 20. Education
ARTICLE 46. LEVIES OTHER THAN GENERAL FUND LEVIES
CHAPTER 4. School Transportation Levy
20-46-4-10.5. Petition to increase maximum permissible property tax levy
Note: This version of section effective until 1-1-2019. See also following repeal of this chapter, effective 1-1-2019.
Sec. 10.5. (a) This section applies to the following school corporations:
(1) New Durham Township School Corporation.
(2) North Vermillion Community School Corporation.
(b) The superintendent of a school corporation listed in subsection (a) may, after approval by the governing body of the school corporation, submit a petition to the department of local government finance requesting an increase in the maximum permissible ad valorem property tax levy for the school corporation's transportation fund.
(c) If a superintendent submits a petition under subsection (b), the department of local government finance shall increase the maximum permissible ad valorem property tax levy for the school corporation's transportation fund for property taxes first due and payable after December 31, 2015, by an amount equal to the lesser of the following:
(1) Two hundred seventy-six thousand eight hundred sixty-nine dollars ($276,869) in the case of New Durham Township School Corporation, or four hundred thirty-eight thousand two hundred ninety-four dollars ($438,294) in the case of North Vermillion Community School Corporation.
(2) The amount necessary to make the maximum permissible ad valorem property tax levy for the school corporation's transportation fund equal to the maximum permissible ad valorem property tax levy that would have applied to the school corporation's transportation fund for property taxes first due and payable after December 31, 2015, if in each year, beginning in 2003 and ending in 2015, the school corporation had imposed the maximum permissible ad valorem property tax levy for the school corporation's transportation fund in each of those years (regardless of whether the school corporation did impose the entire amount of the maximum permissible ad valorem property tax levy for the school corporation's transportation fund).
As added by P.L.242-2015, SEC.41.
