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Indiana Code Title 6. Taxation § 6-9-76-6

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

<Text of section expires January 1, 2047, pursuant to IC 6-9-76-11.>

Sec. 6. (a) If the county fiscal body adopts an ordinance to increase the tax rate to a rate that exceeds five percent (5%), the county treasurer shall establish a tourism capital fund.  The county treasurer shall deposit in the tourism capital fund the amount of money received under section 3 of this chapter attributable to a tax rate that exceeds five percent (5%).

(b) The county auditor shall issue a warrant directing the county treasurer to transfer money from the tourism capital fund to the commission's treasurer if the commission submits a written request for the transfer.

(c) Money deposited in the tourism capital fund shall be transferred or expended only as provided in this section and may be used as follows:

(1) To fund a riverfront park and festival grounds.

(2) Economic development and tourism related purposes.

(3) The pledge of money under IC 5-1-14-4 for bonds, leases, or other obligations incurred for a purpose described in subdivisions (1) and (2).

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Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-9-76-6 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-9-76-6/

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