Version b
Budget estimates
Note: This version of section amended by P.L.199-2005, SEC.12.
See also preceding version of this section amended by P.L.73-2005,
SEC.1.
Sec. 2. (a) When formulating an annual budget estimate, the
proper officers of a political subdivision shall prepare an estimate of
the amount of revenue which the political subdivision will receive
from the state for and during the budget year for which the budget is
being formulated. These estimated revenues shall be shown in the
budget estimate and shall be taken into consideration in calculating
the tax levy which is to be made for the ensuing calendar year.
However, this section does not apply to funds to be received from the
state or the federal government for:
(1) township assistance;
(2) unemployment relief;
(3) old age pensions; or
(4) other funds which may at any time be made available under
"The Economic Security Act" or under any other federal act
which provides for civil and public works projects.
(b) When formulating an annual budget estimate, the proper
officers of a political subdivision shall prepare an estimate of the
amount of revenue that the political subdivision will receive under
a development agreement (as defined in IC 36-1-8-9.5) for and
during the budget year for which the budget is being formulated.
Revenue received under a development agreement may not be used
to reduce the political subdivision's maximum levy under
IC 6-1.1-18.5 but may be used at the discretion of the political
subdivision to reduce the property tax levy of the political
subdivision for a particular year.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.50-1996,
SEC.2; P.L.199-2005, SEC.12.
Last modified: May 28, 2006