Distributions from fund; exceptions; later payment of withheld
distributions
Sec. 4. (a) Each year the department shall allocate from the
property tax replacement fund an amount equal to the sum of:
(1) each county's total eligible property tax replacement amount
for that year; plus
(2) the total amount of homestead tax credits that are provided
under IC 6-1.1-20.9 and allowed by each county for that year;
plus
(3) an amount for each county that has one (1) or more taxing
districts that contain all or part of an economic development
district that meets the requirements of section 5.5 of this
chapter. This amount is the sum of the amounts determined
under the following STEPS for all taxing districts in the county
that contain all or part of an economic development district:
STEP ONE: Determine that part of the sum of the amounts
under section 2(g)(1)(A) and 2(g)(2) of this chapter that is
attributable to the taxing district.
STEP TWO: Divide:
(A) that part of the subdivision (1) amount that is
attributable to the taxing district; by
(B) the STEP ONE sum.
STEP THREE: Multiply:
(A) the STEP TWO quotient; times
(B) the taxes levied in the taxing district that are allocated
to a special fund under IC 6-1.1-39-5.
(b) Except as provided in subsection (e), between March 1 and
August 31 of each year, the department shall distribute to each
county treasurer from the property tax replacement fund one-half
(1/2) of the estimated distribution for that year for the county.
Between September 1 and December 15 of that year, the department
shall distribute to each county treasurer from the property tax
replacement fund the remaining one-half (1/2) of each estimated
distribution for that year. The amount of the distribution for each of
these periods shall be according to a schedule determined by the
property tax replacement fund board under section 10 of this chapter.
The estimated distribution for each county may be adjusted from
time to time by the department to reflect any changes in the total
county tax levy upon which the estimated distribution is based.
(c) On or before December 31 of each year or as soon thereafter
as possible, the department shall make a final determination of the
amount which should be distributed from the property tax
replacement fund to each county for that calendar year. This
determination shall be known as the final determination of
distribution. The department shall distribute to the county treasurer
or receive back from the county treasurer any deficit or excess, as the
case may be, between the sum of the distributions made for that
calendar year based on the estimated distribution and the final
determination of distribution. The final determination of distribution
shall be based on the auditor's abstract filed with the auditor of state,
adjusted for postabstract adjustments included in the December
settlement sheet for the year, and such additional information as the
department may require.
(d) All distributions provided for in this section shall be made on
warrants issued by the auditor of state drawn on the treasurer of state.
If the amounts allocated by the department from the property tax
replacement fund exceed in the aggregate the balance of money in
the fund, then the amount of the deficiency shall be transferred from
the state general fund to the property tax replacement fund, and the
auditor of state shall issue a warrant to the treasurer of state ordering
the payment of that amount. However, any amount transferred under
this section from the general fund to the property tax replacement
fund shall, as soon as funds are available in the property tax
replacement fund, be retransferred from the property tax replacement
fund to the state general fund, and the auditor of state shall issue a
warrant to the treasurer of state ordering the replacement of that
amount.
(e) Except as provided in subsection (g) and subject to subsection
(h), the department shall not distribute under subsection (b) and
section 10 of this chapter a percentage, determined by the
department, of the money that would otherwise be distributed to the
county under subsection (b) and section 10 of this chapter if:
(1) by the date the distribution is scheduled to be made, the
county auditor has not sent a certified statement required to be
sent by that date under IC 6-1.1-17-1 to the department of local
government finance;
(2) by the deadline under IC 36-2-9-20, the county auditor has
not transmitted data as required under that section;
(3) the county assessor has not forwarded to the department of
local government finance the duplicate copies of all approved
exemption applications required to be forwarded by that date
under IC 6-1.1-11-8(a);
(4) the county assessor has not forwarded to the department of
local government finance in a timely manner sales disclosure
forms under IC 6-1.1-5.5-3(b);
(5) local assessing officials have not provided information to
the department of local government finance in a timely manner
under IC 4-10-13-5(b);
(6) the county auditor has not paid a bill for services under
IC 6-1.1-4-31.5 to the department of local government finance
in a timely manner;
(7) the elected township assessors in the county, the elected
township assessors and the county assessor, or the county
assessor has not transmitted to the department of local
government finance by October 1 of the year in which the
distribution is scheduled to be made the data for all townships
in the county required to be transmitted under IC 6-1.1-4-25(b);
(8) the county has not established a parcel index numbering
system under 50 IAC 12-15-1 in a timely manner; or
(9) a township or county official has not provided other
information to the department of local government finance in a
timely manner as required by the department.
(f) Except as provided in subsection (i), money not distributed for
the reasons stated in subsection (e) shall be distributed to the county
when the department of local government finance determines that the
failure to:
(1) provide information; or
(2) pay a bill for services;
has been corrected.
(g) The restrictions on distributions under subsection (e) do not
apply if the department of local government finance determines that
the failure to:
(1) provide information; or
(2) pay a bill for services;
in a timely manner is justified by unusual circumstances.
(h) The department shall give the county auditor at least thirty
(30) days notice in writing before withholding a distribution under
subsection (e).
(i) Money not distributed for the reason stated in subsection (e)(6)
may be deposited in the fund established by IC 6-1.1-5.5-4.7(a).
Money deposited under this subsection is not subject to distribution
under subsection (f).
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by Acts 1979,
P.L.60, SEC.3; Acts 1982, P.L.48, SEC.1; P.L.1-1982(ss), SEC.1;
P.L.44-1984, SEC.8; P.L.68-1985, SEC.1; P.L.86-1987, SEC.2;
P.L.332-1989(ss), SEC.14; P.L.240-1991(ss2), SEC.50; P.L.36-1994,
SEC.9; P.L.30-1996, SEC.3; P.L.198-2001, SEC.59;
P.L.192-2002(ss), SEC.41; P.L.245-2003, SEC.19; P.L.264-2003,
SEC.12; P.L.97-2004, SEC.21; P.L.228-2005, SEC.22.
Last modified: May 28, 2006