Tax revenue distributions
Sec. 12. (a) As long as there are any current or future obligations
owed by the capital improvement board to the authority or any state
agency under a lease or other agreement entered into between the
capital improvement board and the authority or any state agency
pursuant to IC 5-1-17-26, fifty percent (50%) of the amounts
received from the taxes imposed under this chapter by counties shall
be paid monthly by the county treasurer, if the tax is being paid to the
county treasurer, to the treasurer of state. This amount plus fifty
percent (50%) of the amounts received by the state from the taxes
imposed under this chapter by counties shall be paid monthly by the
treasurer of state to the treasurer of the capital improvement board or
its designee upon warrants issued by the auditor of state. The
remainder that is received by the state shall be paid monthly by the
treasurer of state to the county fiscal officer upon warrants issued by
the auditor of state. In any state fiscal year, if the total amount of the
taxes imposed under this chapter by all the counties and paid to the
treasurer of the capital improvement board or its designee under this
subsection equals five million dollars ($5,000,000), the entire
remainder of the taxes imposed by a county under this chapter during
that state fiscal year shall be retained by the county treasurer or paid
by the treasurer of state to the fiscal officer of the county, upon
warrants issued by the auditor of state.
(b) If there are then existing no obligations of the capital
improvement board described in subsection (a), the entire amount
received from the taxes imposed by a county under this chapter shall
be paid monthly by the treasurer of state to the county fiscal officer
upon warrants issued by the auditor of state.
(c) The entire amount of the taxes paid to the treasurer of the
capital improvement board or its designee under subsection (a) shall
be deposited in a special fund and used only for the payment or to
secure the payment of obligations of the capital improvement board
described in subsection (a). If the taxes are not used for the payment
or to secure the payment of obligations of the capital improvement
board described in subsection (a), the taxes shall be returned by the
capital improvement board to the treasurer of state who shall return
the taxes to the respective counties that contributed the taxes.
(d) The entire amount received from the taxes imposed by a
municipality under this chapter shall be paid monthly by the treasurer
of state to the municipality's fiscal officer upon warrants issued by
the auditor of state.
As added by P.L.214-2005, SEC.44.
Last modified: May 28, 2006