Indiana § 36-1-8-9.5 - "Development agreement"
Full text of Indiana Indiana Code § 36-1-8-9.5 — "Development agreement", with citation guidance and answers to common questions.
§ 36-1-8-9.5. "Development agreement"
Sec. 9.5. (a) As used in this section, "development agreement" means an agreement between a licensed owner (as defined in IC 4-33-2-13) and a unit setting forth the licensed owner's financial commitments to support economic development in the unit.
(b) Funds received by a unit under a development agreement are public funds (as defined in IC 5-13-4-20).
(c) Funds received under a development agreement:
(1) may not be used to reduce the unit's maximum levy under IC 6-1.1-18.5 but may be used at the discretion of the unit to reduce the property tax levy of the unit for a particular year;
(2) may be used for any legal or corporate purpose of the unit, including the pledge of money to bonds, leases, or other obligations under IC 5-1-14-4; and
(3) are considered miscellaneous revenue.
As added by P.L.199-2005, SEC.29.
Frequently Asked Questions About Indiana § 36-1-8-9.5
What does Indiana Code § 36-1-8-9.5 cover?
Section 36-1-8-9.5 (""Development agreement"") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 36-1-8-9.5?
A common citation format is "Indiana Code § 36-1-8-9.5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 36-1-8-9.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.