Distributions to counties and taxing units
Sec. 20. (a) On or before May 1, the auditor of state shall
distribute to each county auditor an amount equal to fifty percent
(50%) of the total base revenue to be distributed to all taxing units in
the county for that year.
(b) On or before December 1, the auditor of state shall distribute
to each county auditor an amount equal to the greater of the
following:
(1) Fifty percent (50%) of the total base revenue to be
distributed to all taxing units in the county for that year.
(2) The product of the county's distribution percentage
multiplied by the total commercial vehicle excise tax revenue
deposited in the commercial vehicle excise tax fund.
(c) Upon receipt, the county auditor shall distribute to the taxing
units an amount equal to the product of the taxing unit's distribution
percentage multiplied by the total distributed to the county under this
section. The amount determined shall be apportioned and distributed
among the respective funds of each taxing unit in the same manner
and at the same time as property taxes are apportioned and
distributed.
(d) In the event that sufficient funds are not available in the
commercial vehicle excise tax fund for the distributions required by
subsection (a) and subsection (b)(1), the auditor of state shall transfer
funds from the commercial vehicle excise tax reserve fund.
(e) The auditor of state shall, not later than July 1 of each year,
furnish to each county auditor an estimate of the amounts to be
distributed to the counties under this section during the next calendar
year. Before August 1, each county auditor shall furnish to the proper
officer of each taxing unit of the county an estimate of the amounts
to be distributed to the taxing units under this section during the next
calendar year and the budget of each taxing unit shall show the
estimated amounts to be received for each fund for which a property
tax is proposed to be levied.
As added by P.L.181-1999, SEC.2.
Last modified: May 28, 2006