Cumulative building or sinking fund proposal; action by
department of local government finance
Sec. 16.5. This section applies in each case in which the
department of local government finance has the power to approve or
disapprove the tax levy for a cumulative building or sinking fund
proposed to be established by a political subdivision. The department
may:
(1) approve the tax levy;
(2) disapprove the tax levy; or
(3) modify the tax levy by approving it at any amount less than
the tax levy proposed to be established.
As added by Acts 1981, P.L.11, SEC.23. Amended by P.L.90-2002,
SEC.157.
Last modified: May 28, 2006