SOURCE: IC 6-3.5-7-22.5; (04)MO132701.1. -->
SECTION 1. IC 6-3.5-7-22.5, AS AMENDED BY P.L.224-2003,
SECTION 258, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 22.5. (a) This section applies to a county having
a population of more than twenty-seven thousand four hundred
(27,400) but less than twenty-seven thousand five hundred (27,500).
(b) In addition to the rates permitted by section 5 of this chapter, the
county council may impose the county economic development income
tax at a rate of twenty-five hundredths percent (0.25%) on the adjusted
gross income of county taxpayers if the county council makes the
finding and determination set forth in subsection (c).
(c) In order to impose the county economic development income tax
as provided in this section, the county council must adopt an ordinance
finding and determining that revenues from the county economic
development income tax are needed to pay the costs of
(1) financing,
constructing, acquiring, renovating, and
equipping the county courthouse and renovating the former
county hospital for additional office space, educational facilities,
nonsecure juvenile facilities, and other county functions, including
the repayment of bonds issued or leases entered into for
constructing, acquiring, renovating, and equipping the county
courthouse and renovating
the former county hospital for
additional office space, educational facilities, nonsecure juvenile
facilities, and other county functions.
(2) financing constructing, acquiring, renovating, and equipping
buildings for a volunteer fire department (as defined in
IC 36-8-12-2) that provides services in any part of the county;
and
(3) financing constructing, acquiring, and renovating firefighting
apparatus or other related equipment for a volunteer fire
department (as defined in IC 36-8-12-2) that provides services in
any part of the county.
The revenues from the county economic development income tax
imposed under this section may not be used to pay the costs of
financing constructing, acquiring, renovating, and equipping the county
courthouse.
(d) If the county council makes a determination under subsection
(c), the county council may adopt a tax rate under subsection (b). The
tax rate may not be imposed at a rate or for a time greater than is
necessary to pay for the purposes described in this section.
(e) The county treasurer shall establish a county option tax revenue
fund to be used only for the purposes described in this section. County
economic development income tax revenues derived from the tax rate
imposed under this section shall be deposited in the county option tax
revenue fund before making a certified distribution under section 11 of
this chapter.
(f) County economic development income tax revenues derived from
the tax rate imposed under this section:
(1) may only be used for the purposes described in this section;
(2) may not be considered by the department of local government
finance in determining the county's maximum permissible property
tax levy limit under IC 6-1.1-18.5; and
(3) may be pledged to the repayment of bonds issued, or leases
entered into, for the purposes described in subsection (c).
(g) A county described in subsection (a) possesses:
(1) unique fiscal challenges to finance the operations of county
government due to the county's ongoing obligation to repay
amounts received by the county due to an overpayment of the
county's certified distribution under IC 6-3.5-1.1-9 for a prior
year; and
(2) unique capital financing needs related to the purposes
described in subsection (c).
(Reference is to HB 1327 as printed January 23, 2004.)
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MO132701/DI 103 2004