Sec. 5.5. (a) This section applies to Lake County for purposes of categorizations, allocations, and distributions of additional revenue that is allocated each year for economic development purposes under IC 6-3.6-6-9 and of certified shares under IC 6-3.6-6. Additional revenue that is allocated each year for economic development purposes by a civil taxing unit listed in IC 6-3.6-9-5(d) must first be used to provide funding for a rail project (as defined in IC 36-7.5-1-13.5).
(b) Before the auditor of state may make a certified distribution of additional revenue allocated for economic development purposes under IC 6-3.6-6-9, the auditor of state shall withhold the total amount determined by the department of local government finance under IC 6-3.6-9-5(d) from the certified distribution allocated to economic development. The amount withheld by the auditor of state under this section shall be paid to the secretary-treasurer of the northwest Indiana regional development authority (IC 36-7.5) before a certified distribution allocated to economic development is made to the county and before the county auditor may otherwise allocate or distribute tax revenue under this article.
As added by P.L.259-2019, SEC.9.
Structure Indiana Code
Article 3.6. Local Income Taxes
Chapter 11. Supplemental Allocation and Distribution Requirements
6-3.6-11-1.5. Marion County; Transfers to Bid Fund of Capital Improvement Board
6-3.6-11-5. Marion County's Allocation of Tax Revenue
6-3.6-11-5.5. Lake County; Rail Project; Additional Revenue Allocated for Economic Development
6-3.6-11-5.7. Lake County Municipalities; Authorization to Support and Finance a Rail Project