Amount of credits determined by department and deposited in
state general fund
Sec. 7. (a) The department shall before July 1 of each year
determine the amount of credits allowed under this chapter for
taxable years ending before January 1 of the year.
(b) One-half (1/2) of the amount determined by the department
under subsection (a) shall be:
(1) deducted during the year from the riverboat admissions tax
revenue otherwise payable to the county under
IC 4-33-12-6(d)(2); and
(2) paid instead to the state general fund.
(c) One-sixth (1/6) of the amount determined by the department
under subsection (a) shall be:
(1) deducted during the year from the riverboat admissions tax
revenue otherwise payable under IC 4-33-12-6(d)(1) to each of
the following:
(A) The largest city by population located in the county.
(B) The second largest city by population located in the
county.
(C) The third largest city by population located in the
county; and
(2) paid instead to the state general fund.
As added by P.L.151-2001, SEC.5. Amended by P.L.178-2002,
SEC.51.
Last modified: May 28, 2006