There is a newer version
of
this Section
2021 Indiana Code
Title 6. Taxation
Article 3.6. Local Income Taxes
Chapter 6. Expenditure Rate
6-3.6-6-5. Allocations; Pledge for Payment of Bonds or Leases
Universal Citation: IN Code § 6-3.6-6-5 (2021)
Sec. 5. The adopting body may not reduce the proportional allocation among the uses described in section 4 of this chapter in a year if the reduction would allocate less to the payment of bonds or leases for which the tax under this chapter has been pledged in accordance with law than the amount pledged and payable in that year or required under the agreements for the bonds or leases to be deposited in a sinking fund or other reserve in that year.
As added by P.L.243-2015, SEC.10. Amended by P.L.197-2016, SEC.49.
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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
