Indiana § 6-9-2-1.5 - Tax rate increase; revenue attributable to increase; northwest Indiana stadium board

§ 6-9-2-1.5. Tax rate increase; revenue attributable to increase; northwest Indiana stadium board

Sec. 1.5. (a) Not later than June 30, 2027, the county fiscal body may adopt an ordinance to increase the tax rate imposed under section 1 of this chapter by not more than an additional five percent (5%).

(b) If the county fiscal body adopts an ordinance under this section:

(1) it shall immediately send a certified copy of the ordinance to the department of state revenue; and

(2) the increase applies to transactions after the last day of the month in which the ordinance is adopted, if the county fiscal body adopts the ordinance on or before the fifteenth day of a month. If the county fiscal body adopts the ordinance after the fifteenth day of a month, the tax applies to transactions after the last day of the month following the month in which the ordinance is adopted.

The increase in the tax imposed under this section continues in effect unless the increase is rescinded.

(c) As long as there are any current or future obligations owed by the board to the authority or any state agency under a lease or other agreement entered into between the board and the authority or any state agency pursuant to IC 5-1-17.1 and until the budget committee has reviewed a report submitted by the public finance director (as defined in IC 5-1.2-2-60) certifying that all project costs have been paid, the amounts received from an increase adopted under this section shall be paid monthly to the county treasurer. All of the amounts received by the county treasurer from the increase adopted under this section shall be paid monthly by the county treasurer to the treasurer of the board or its designee upon warrants issued by the state comptroller.

(d) If there are not obligations of the board described in subsection (c) then outstanding and there are no bonds, leases, or other obligations then outstanding for which a pledge has been made and the budget committee has reviewed a report submitted by the public finance director (as defined in IC 5-1.2-2-60) certifying that all project costs have been paid, the fiscal body may adopt an ordinance that repeals the ordinance adopted under subsection (a).

(e) An ordinance adopted under subsection (d) takes effect January 1 immediately following the date of its adoption. If the fiscal body adopts such an ordinance, the clerk shall immediately send a certified copy of the ordinance to the commissioner of the department of state revenue.

(f) A tax imposed under this chapter terminates January 1 of the year immediately following the year in which the last payment obligation of the board is made with respect to any bond, lease, or other obligation described in subsection (c).

As added by P.L.195-2023, SEC.4. Amended by P.L.44-2026, SEC.10.