Sec. 5. The adopting body may not reduce the proportional allocation among the uses described in section 4 of this chapter in a year if the reduction would allocate less to the payment of bonds or leases for which the tax under this chapter has been pledged in accordance with law than the amount pledged and payable in that year or required under the agreements for the bonds or leases to be deposited in a sinking fund or other reserve in that year.
As added by P.L.243-2015, SEC.10. Amended by P.L.197-2016, SEC.49.
Structure Indiana Code
Article 3.6. Local Income Taxes
6-3.6-6-4. Additional Revenue; Allocation; Public Safety; Economic Development; Certified Shares
6-3.6-6-5. Allocations; Pledge for Payment of Bonds or Leases
6-3.6-6-9. Allocation of Revenue for Economic Development; Amount of Certified Distribution
6-3.6-6-10. Allocation of Additional Revenue Allocated for Certified Shares
6-3.6-6-12. Allocation Amount of Certified Shares; Civil Taxing Units
6-3.6-6-14. Calculation of Allocation of Certified Shares Among Civil Taxing Units
6-3.6-6-15. Adjustment of Allocation or Distribution of Certified Shares; Fire Protection Territory
6-3.6-6-16. Marion County; Certified Shares; Supplemental Allocation and Distribution Requirements
6-3.6-6-17. Certified Shares; Uses
6-3.6-6-18. Pledge of Certified Shares; Payment of Bonds; Lease Payments; Approval by Fiscal Body
6-3.6-6-21.2. School Corporation Allocation of Local Income Tax Revenue to Any Fund