Indiana Code - Taxation - Title 6, Section 6-1.1-21-9

Aggregate amount of credits; settlement with department

Sec. 9. (a) On or before October 15 of each year, each county
auditor shall, make a settlement with the department as to the
aggregate amount of property tax replacement credits extended to
taxpayers in the auditor's county during the first eight (8) months of
that same year. On or before December 31 of each year, each county
auditor shall make a settlement with the department along with the
filing of the county auditor's December settlement as to the aggregate
amount of property tax replacement credits extended to taxpayers in
the auditor's county during the last four (4) months of that same year.
If the aggregate credits allowed during either period exceed the
property tax replacement funds allocated and distributed to the
county treasurer for that same period, as provided in sections 4 and
5 of this chapter, then the department shall certify the amount of the
excess to the auditor of state who shall issue a warrant, payable from
the property tax replacement fund, to the treasurer of the state
ordering the payment of the excess to the county treasurer. If the
distribution exceeds the aggregate credits, the county treasurer shall
repay to the treasurer of the state the amount of the excess, which
shall be redeposited in the property tax replacement fund.
(b) In making the settlement required by subsection (a), the county
auditor shall recognize the fact that any loss of revenue resulting
from the provision of homestead credits in excess of the percentage
credit allowed in IC 6-1.1-20.9-2(d) must be paid from county option
income revenues.
(c) Except as otherwise provided in this chapter, the state board
of accounts with the cooperation of the department shall prescribe
the accounting forms, records, and procedures required to carry out
the provisions of this chapter.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by
P.L.1-1982(ss), SEC.2; P.L.44-1984, SEC.11; P.L.68-1985, SEC.2;
P.L.240-1991(ss2), SEC.51.

Last modified: May 28, 2006