Distribution of excess balance; use
Sec. 21.1. (a) If, after receiving a recommendation from the
budget agency, the department determines that a sufficient balance
exists in a county account in excess of the amount necessary, when
added to other money that will be deposited in the account after the
date of the recommendation, to make certified distributions to the
county in the ensuing year, the department shall make a supplemental
distribution to a county from the county's adjusted gross income tax
account.
(b) A supplemental distribution described in subsection (a) must
be:
(1) made in January of the ensuing calendar year; and
(2) allocated and, subject to subsection (d), used in the same
manner as certified distributions.
(c) A determination under this section must be made before
October 2.
(d) This subsection applies to that part of a distribution made
under this section that is allocated and available for use in the same
manner as certified shares. The civil taxing unit receiving the money
shall deposit the money in the civil taxing unit's rainy day fund
established under IC 36-1-8-5.1.
As added by P.L.178-2002, SEC.60. Amended by P.L.267-2003,
SEC.6.
Last modified: May 28, 2006