Property tax replacement; calculation of certified shares
Sec. 11. (a) Except for:
(1) revenue that must be used to pay the costs of operating a jail
and juvenile detention center under section 2.5(d) of this
chapter;
(2) revenue that must be used to pay the costs of:
(A) financing, constructing, acquiring, improving,
renovating, or equipping facilities and buildings;
(B) debt service on bonds; or
(C) lease rentals;
under section 2.8 of this chapter;
(3) revenue that must be used to pay the costs of construction,
improvement, renovation, or remodeling of a jail and related
buildings and parking structures under section 2.7, 2.9, or 3.3 of
this chapter;
(4) revenue that must be used to pay the costs of operating and
maintaining a jail and justice center under section 3.5(d) of this
chapter; or
(5) revenue that must be used to pay the costs of constructing,
acquiring, improving, renovating, or equipping a county
courthouse under section 3.6 of this chapter;
the certified distribution received by a county treasurer shall, in the
manner prescribed in this section, be allocated, distributed, and used
by the civil taxing units and school corporations of the county as
certified shares and property tax replacement credits.
(b) Before August 10 of each calendar year, each county auditor
shall determine the part of the certified distribution for the next
succeeding calendar year that will be allocated as property tax
replacement credits and the part that will be allocated as certified
shares. The percentage of a certified distribution that will be
allocated as property tax replacement credits or as certified shares
depends upon the county adjusted gross income tax rate for resident
county taxpayers in effect on August 1 of the calendar year that
precedes the year in which the certified distribution will be received
by two (2) years. The percentages are set forth in the following table:
PROPERTY
COUNTY TAX
ADJUSTED GROSS REPLACEMENT CERTIFIED
INCOME TAX RATE CREDITS SHARES
0.5% 50% 50%
0.75% 33 1/3% 66 2/3%
1% 25% 75%
(c) The part of a certified distribution that constitutes property tax
replacement credits shall be distributed as provided under sections
12, 13, and 14 of this chapter.
(d) The part of a certified distribution that constitutes certified
shares shall be distributed as provided by section 15 of this chapter.
As added by P.L.73-1983, SEC.2. Amended by P.L.119-1998,
SEC.10; P.L.135-2001, SEC.4; P.L.178-2002, SEC.58; P.L.42-2003,
SEC.4; P.L.267-2003, SEC.4.
Last modified: May 28, 2006