6-1.1-21.8-1. “Board” Defined

Sec. 1. As used in this chapter, “board” refers to the state board of finance. As added by P.L.157-2002, SEC.1.

6-1.1-21.8-2. “Qualified Taxing Unit”

Sec. 2. As used in this chapter, “qualified taxing unit” means a taxing unit located in a county having a population of more than one hundred seventy thousand (170,000) and less than one hundred seventy-four thousand (174,000). As added by P.L.157-2002, SEC.1. Amended by P.L.119-2012, SEC.36; P.L.104-2022, SEC.26.

6-1.1-21.8-3. Loan Application; Prerequisites to Grant of Loan

Sec. 3. A qualified taxing unit may apply to the board for one (1) or more loans from the counter-cyclical revenue and economic stabilization fund. The board may make a loan from the fund to the qualified taxing unit if: (1) a taxpayer with tangible property subject to taxation by the qualified taxing unit has […]

6-1.1-21.8-4. Loan Terms; Repayment Schedule

Sec. 4. (a) The board shall determine the terms of a loan made under this chapter. However, the interest charged on the loan may not exceed the percent of increase in the United States Department of Labor Consumer Price Index for Urban Wage Earners and Clerical Workers during the most recent twelve (12) month period […]

6-1.1-21.8-5. Maximum Loan Amount for a Particular Qualified Taxing Unit

Sec. 5. The maximum amount that the board may loan to a qualified taxing unit is determined under STEP FOUR of the following formula: STEP ONE: Determine the amount of the taxpayer’s property taxes due and payable in November 2001 that are attributable to the qualified taxing unit as determined by the department of local […]

6-1.1-21.8-6. “Delinquent Tax”; Loan Proceeds and Delinquent Tax Payments; Calculation of Levy Excess; Expenditure of Loan Receipts

Sec. 6. (a) As used in this section, “delinquent tax” means any tax: (1) owed by a taxpayer in a bankruptcy proceeding initially filed in 2001; and (2) not paid during the calendar year in which it was first due and payable. (b) Except as provided in subsection (d), the proceeds of a loan received […]