Tourism capital improvement fund
Sec. 7.5. (a) The county treasurer shall establish a tourism capital
improvement fund.
(b) The county treasurer shall deposit money in the tourism
capital improvement fund as follows:
(1) Before January 1, 2000, if the rate set under section 6 of this
chapter is greater than two percent (2%), the county treasurer
shall deposit in the tourism capital improvement fund an
amount equal to the money received under section 6 of this
chapter minus the amount generated by a two percent (2%) rate.
(2) After December 31, 1999, and before January 1, 2003, the
county treasurer shall deposit in the tourism capital
improvement fund the amount of money received under section
6 of this chapter that is generated by a one percent (1%) rate.
(3) After December 31, 2002, and before January 1, 2010, the
county treasurer shall deposit in the tourism capital
improvement fund the amount of money received under section
6 of this chapter that is generated by a one and one-half percent
(1.5%) rate.
(4) After December 31, 2009, the county treasurer shall deposit
in the tourism capital improvement fund the amount of money
received under section 6 of this chapter that is generated by a
two and one-half percent (2.5%) rate.
(c) The commission may transfer money in the tourism capital
improvement fund to:
(1) the county government, a city government, or a separate
body corporate and politic in a county described in section 1 of
this chapter; or
(2) any Indiana nonprofit corporation;
for the purpose of making capital improvements in the county that
promote conventions, tourism, or recreation. The commission may
transfer money under this section only after approving the transfer.
Transfers shall be made quarterly or less frequently under this
section.
As added by P.L.49-1994, SEC.9. Amended by P.L.208-1999, SEC.2;
P.L.178-2002, SEC.76; P.L.168-2005, SEC.9.
Last modified: May 28, 2006