Sec. 16. A qualified entity receiving a loan under this chapter may levy an annual tax on personal and real property located within the qualified entity's geographical limits for industrial development purposes, in addition to any other tax authorized by statute to be levied for such purposes, at a rate that will produce sufficient revenue to pay the annual installment and interest on a loan made under this chapter. The tax may be in addition to the maximum annual rates prescribed by IC 6-1.1-18, IC 6-1.1-18.5, and other statutes.
As added by P.L.4-2005, SEC.34. Amended by P.L.2-2006, SEC.34; P.L.146-2008, SEC.40.
Structure Indiana Code
Title 5. State and Local Administration
Article 28. Indiana Economic Development Corporation
Chapter 9. Industrial Development Program and Fund
5-28-9-3. "Industrial Development Program"
5-28-9-4. "Information and High Technology Infrastructure"
5-28-9-5. "Minority Enterprise Small Business Investment Company"
5-28-9-7. "Small Business Investment Company"
5-28-9-9. Fund Established; Purpose; Administration
5-28-9-10. Loans for Approved Programs; Amount Restriction; Limitations
5-28-9-11. Industrial Development Programs
5-28-9-12. Loans to Qualified Entities; Conditions
5-28-9-13. Participation in Program or Project by Entity; Share of Cost
5-28-9-14. Priority Rating of Applicant for Loan
5-28-9-15. Loans; Restrictions; Ordinance Requirement
5-28-9-16. Revenue to Pay Annual Loan Installment and Interest; Levy of Tax
5-28-9-17. Failure to Repay Money Lent; Action to Recover
5-28-9-20. Loan With Simultaneous or Successive Sale of Note or Other Obligation; Legal Investments