2018 Indiana Code
TITLE 6. Taxation
ARTICLE 1.1. PROPERTY TAXES
CHAPTER 21.4. Rainy Day Fund Loans for Eligible School Corporations
6-1.1-21.4-2. "Eligible school corporation"

Universal Citation: IN Code § 6-1.1-21.4-2 (2018)
IC 6-1.1-21.4-2 "Eligible school corporation"

     Sec. 2. As used in this chapter, "eligible school corporation" refers to any of the following:

(1) A school corporation located in a county in which distributions of property tax revenue for 2007 or 2008 to the taxing units (as defined in IC 6-1.1-1-21) of the county:

(A) have not been made; or

(B) were delayed by more than sixty (60) days after either due date specified in IC 6-1.1-22-9.

(2) A school corporation that is:

(A) designated by the distressed unit appeal board as a distressed political subdivision under IC 6-1.1-20.3; or

(B) approved for a loan by the distressed unit appeal board under IC 6-1.1-20.3-8.3.

(3) A school corporation that had a loan from the counter-cyclical revenue and economic stabilization fund denied in October 2013. However, the school corporation is not an eligible school corporation if in 2014 the voters approve a referendum tax levy for the school corporation under IC 20-46-1.

As added by P.L.131-2008, SEC.5. Amended by P.L.145-2012, SEC.16; P.L.166-2014, SEC.5.

 

Disclaimer: These codes may not be the most recent version. Indiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.