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Indiana Code Title 36. Local Government § 36-1-8-9.2

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 9.2. (a) Each unit that receives:

(1) tax revenue under IC 4-35-8.5;  or

(2) revenue under an agreement to share the tax revenue received under IC 4-35-8.5 by another unit;

shall establish a fund, separate from the unit's general fund, into which the revenue shall be deposited.  Money in the fund may be used for any legal or corporate purpose of the unit.

(b) The fund established by subsection (a) shall be administered by the unit's treasurer, and the expenses of administering the fund shall be paid from money in the fund.  Money in the fund not currently needed to meet the obligations of the fund may be invested in the same manner as other public funds may be invested.  Interest that accrues from these investments shall be deposited in the fund.  Money in the fund at the end of a particular fiscal year does not revert to the unit's general fund.

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Cite this article: FindLaw.com - Indiana Code Title 36. Local Government § 36-1-8-9.2 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-36-local-government/in-code-sect-36-1-8-9-2/

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