Collected revenue; distribution and use
Sec. 1. (a) The department shall account for all state gross retail
and use taxes that it collects.
(b) The department shall deposit those collections in the following
manner:
(1) Fifty percent (50%) of the collections shall be paid into the
property tax replacement fund established under IC 6-1.1-21.
(2) Forty-nine and one hundred ninety-two thousandths percent
(49.192%) of the collections shall be paid into the state general
fund.
(3) Six hundred thirty-five thousandths of one percent (0.635%)
of the collections shall be paid into the public mass
transportation fund established by IC 8-23-3-8.
(4) Thirty-three thousandths of one percent (0.033%) of the
collections shall be deposited into the industrial rail service
fund established under IC 8-3-1.7-2.
(5) Fourteen-hundredths of one percent (0.14%) of the
collections shall be deposited into the commuter rail service
fund established under IC 8-3-1.5-20.5.
As added by Acts 1980, P.L.52, SEC.1. Amended by Acts 1980,
P.L.10, SEC.3; Acts 1982, P.L.51, SEC.1; P.L.2-1982(ss), SEC.7;
P.L.16-1984, SEC.3; P.L.95-1987, SEC.1; P.L.1-1993, SEC.38;
P.L.253-1999, SEC.3; P.L.192-2002(ss), SEC.65.
Last modified: May 28, 2006