Authorization of fund and tax levies
Sec. 2. (a) In addition to complying with the budget, tax rate, and
tax levy requirements applicable to other tax levies, a political
subdivision may:
(1) establish a cumulative fund and impose a property tax for
the cumulative fund; or
(2) increase the tax rate for a cumulative fund;
only after the proposal is adopted and approved in compliance with
this chapter.
(b) If an action described in this section is not adopted or
approved in conformity with this chapter, the political subdivision
may not levy a tax for the fund in the ensuing year.
As added by P.L.17-1995, SEC.6.
Last modified: May 28, 2006