Sec. 9.5. (a) As used in this section, "development agreement" means an agreement between a licensed owner (as defined in IC 4-33-2-13) and a unit setting forth the licensed owner's financial commitments to support economic development in the unit.
(b) Funds received by a unit under a development agreement are public funds (as defined in IC 5-13-4-20).
(c) Funds received under a development agreement:
(1) may not be used to reduce the unit's maximum levy under IC 6-1.1-18.5 but may be used at the discretion of the unit to reduce the property tax levy of the unit for a particular year;
(2) may be used for any legal or corporate purpose of the unit, including the pledge of money to bonds, leases, or other obligations under IC 5-1-14-4; and
(3) are considered miscellaneous revenue.
As added by P.L.199-2005, SEC.29.
Structure Indiana Code
Chapter 8. Miscellaneous Fiscal and Administrative Provisions
36-1-8-1. Application of Chapter
36-1-8-2. Cash Change Fund; Establishment; Use
36-1-8-3. Petty Cash Fund; Establishment; Use; Reimbursement
36-1-8-5.1. Rainy Day Funds Established by Political Subdivisions; Transfers by Schools
36-1-8-6. Reversion of Unused Appropriation; Funds Received From State or the United States
36-1-8-7. Bank Deposit or Cash on Hand Constituting Pledge or Guaranty
36-1-8-8.5. Establishing Fraud Hotline
36-1-8-9. Riverboat Fund Establishment; Administration and Investment of Funds
36-1-8-9.2. Separate Fund for Deposit of County Slot Machine Wagering Fee Revenue
36-1-8-9.5. "Development Agreement"
36-1-8-10. Board; Political Affiliation of Board Appointees
36-1-8-10.5. Employee of Political Subdivision as Candidate for or Appointed to Office
36-1-8-11. Methods of Payments to Political Subdivisions or Utilities; Transaction and Other Fees
36-1-8-11.5. Payment of Claims; Electronic Funds Transfer
36-1-8-12. Special Fund for State Grant Money and Local Matching Money; Reversion of Unused Money
36-1-8-13. Referral of Dishonored Checks to Prosecuting Attorney
36-1-8-14. Three-Fourths Vote Rounded to Nearest Whole Number
36-1-8-15. Shortened Term of County Office Under Constitution; Benefits
36-1-8-16. Property Taxes Collected for Property Disposed by County Executive
36-1-8-17. Combination or Reorganization; Budgets, Rates, and Levies
36-1-8-17.5. Reporting of Information and Data on Retiree Benefits and Expenditures
36-1-8-18. Certain Tax Exempt Property; Limitation on Charges