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Indiana Code Title 4. State Offices and Administration § 4-33-13-5.3

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

<Text of section expires July 1, 2039, pursuant to its own terms.>

Sec. 5.3. (a) This section applies to the state fiscal year beginning July 1, 2024.

(b) As used in this section, “qualified city” refers to East Chicago, Hammond, or Michigan City.

(c) The state comptroller shall determine the total amount of money paid by the state comptroller under section 5(a)(2) of this chapter to Gary, East Chicago, Hammond, and Michigan City during the state fiscal year ending on June 30, 2019.  The amount determined under this subsection for each city is the city's base year revenue.  The state comptroller shall certify the base year revenue determined under this subsection to each city.

(d) A qualified city is eligible for a supplemental payment if both of the following occur in the state fiscal year:

(1) The total amount payable to Gary under section 5(a)(2) of this chapter in the state fiscal year is greater than the base year revenue determined for Gary under subsection (c).

(2) The amount payable to the qualified city under section 5(a)(2) of this chapter in the state fiscal year is less than the base year revenue determined for the qualified city under subsection (c).

(e) The state comptroller shall determine the lesser of the following:

(1) The difference between the base year revenue determined for the qualified city under subsection (c) and the amount payable to the qualified city under section 5(a)(2) of this chapter.

(2) The difference between the amount payable to Gary under section 5(a)(2) of this chapter and the base year revenue determined for Gary under subsection (c).

(f) This section expires July 1, 2039.

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Cite this article: FindLaw.com - Indiana Code Title 4. State Offices and Administration § 4-33-13-5.3 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-4-state-offices-and-administration/in-code-sect-4-33-13-5-3/

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