Approval, modification, or rejection of distributions
Sec. 2. If the school property tax control board recommends a
distribution from the property tax replacement fund under section 1
of this chapter, the school property tax control board shall
immediately forward a copy of its recommendation and findings to
the department of local government finance. The department of local
government finance shall review the recommendation and findings
of the school property tax control board and may approve, modify
and approve, or reject the recommendation of the school property tax
control board. The department of local government finance may not
approve a distribution from the property tax replacement fund that
exceeds the amount of the school corporation's property tax shortfall
attributable to the delinquent installment or installments of property
taxes described in section 1 of this chapter, as determined by the
department.
As added by P.L.291-2001, SEC.238. Amended by P.L.90-2002,
SEC.203.
Last modified: May 28, 2006