Indiana Code Title 6. Taxation § 6-3.6-9-21

Sec. 21. (a) The budget agency shall maintain an accounting for each county imposing a tax based on annual returns filed by or for county taxpayers.  Beginning after December 31, 2027, any undistributed amounts so accounted shall be held for purposes of the state and local income tax holding account.

(b) After December 1 but before December 31 of each year, the budget agency shall present to the budget committee a report of the following:

(c) Beginning in 2028, and in each calendar year thereafter, the budget agency shall each month transfer to the state and local income tax holding account the amount determined for the month under subsection (b)(1) for distribution under this chapter.

(d) In the case of a county that imposes a tax rate under IC 6-3.6-6-2 or a municipality that imposes a tax rate under IC 6-3.6-6-22 beginning after December 31, 2027, the budget agency shall withhold, from each of the first three (3) annual certified distributions resulting from the tax rate, an amount equal to five percent (5%) of the county's or municipality's, as applicable, annual certified distribution resulting from the tax rate.  The amounts withheld under this subsection shall be credited to the respective county's or municipality's trust account.