2017 Indiana Code
TITLE 20. Education
ARTICLE 46. LEVIES OTHER THAN GENERAL FUND LEVIES
CHAPTER 8. School Corporation Operations Fund Property Tax Levy
20-46-8-5. Capital projects levy component
Effective 7-1-2018.
Sec. 5. (a) For property taxes first due and payable in 2019, a school corporation's capital projects levy may not exceed the result of:
(1) the amount that would be raised from a rate equal to the sum of:
(A) the maximum capital projects fund rate that the school corporation was authorized to impose for 2018 under IC 20-46-6 (before its repeal), after any adjustment under IC 6-1.1-18-12 (but excluding any rate imposed for qualified utility and insurance costs); plus
(B) the capital projects fund rate imposed for qualified utility and insurance costs in 2018; multiplied by
(2) the assessed value growth quotient determined under IC 6-1.1-18.5-2.
(b) For property taxes first due and payable after 2019, a school corporation's capital projects levy may not exceed an amount equal to:
(1) the school corporation's maximum permissible levy determined under this section for the preceding year, after eliminating the effects of temporary excessive levy appeals and any other temporary adjustments made to the levy for the year (regardless of whether the school corporation imposed the entire amount of the maximum permissible levy in the immediately preceding year); multiplied by
(2) the assessed value growth quotient determined under IC 6-1.1-18.5-2.
As added by P.L.244-2017, SEC.106.
