Warrants; payments
Sec. 3. If the department of local government finance approves a
distribution from the property tax replacement fund under section 2
of this chapter, the department shall immediately notify the auditor
of state, who shall draw warrants for the distribution on the treasurer
of state. A distribution made under this chapter is payable in two (2)
equal installments. The first installment shall be paid in the first
month following the approval of the distribution by the department
of local government finance, and the second installment shall be paid
in the second month following the approval of the distribution by the
department.
As added by P.L.291-2001, SEC.238. Amended by P.L.90-2002,
SEC.204.
Last modified: May 28, 2006