reglab/housing_qa huggingface dataset:
IN Code § 6-1.1-21.3-4 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.3. Rainy Day Fund Loans for Taxing Units Affected by Transmission Manufacturer Bankruptcy|6-1.1-21.3-4. Certain Amounts Not Considered for Determination of Levy Excess; Use of Delinquent Tax and Effect on Remaining Loan Balance; Use of Loan Proceeds

Sec. 4. (a) As used in this section, "delinquent tax" means any tax not paid during the calendar year in which the tax was first due and payable.(b) Except as provided in subsection (c), the following are not considered to be part of the ad valorem property tax levy actually collected by the qualified taxing unit for taxes first due and payable during a particular calendar year for the purpose of calculating the levy excess under IC 6-1.1-18.5-17 and IC 20-44-3:(1) The proceeds of a loan received by the qualified taxing unit under this chapter.(2) The receipt by a qualified taxing unit of any payment of delinquent tax owed by a qualifying taxpayer.(c) Delinquent tax owed by a qualifying taxpayer received by a qualified taxing unit:(1) must first be used toward the retirement of an outstanding loan made under this chapter; and(2) is considered, only to the extent that the amount received exceeds the amount of the outstanding loan, to be part of the ad valorem property tax levy actually collected by the qualified taxing unit for taxes first due and payable during a particular calendar year for the purpose of calculating the levy excess under IC 6-1.1-18.5-17 and IC 20-44-3.(d) If a qualifying taxpayer pays delinquent tax during the term of repayment of an outstanding loan made under this chapter, the remaining loan balance is repayable in equal installments over the remainder of the original term of repayment.(e) Proceeds of a loan made under this chapter may be expended by a qualified taxing unit only to pay obligations of the qualified taxing unit that have been incurred under appropriations for operating expenses made by the qualified taxing unit and approved by the department of local government finance.As added by P.L.182-2009(ss), SEC.156.
IN Code § 6-1.1-21.3-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.3. Rainy Day Fund Loans for Taxing Units Affected by Transmission Manufacturer Bankruptcy|6-1.1-21.3-5. Loan Not Bonded Indebtedness

Sec. 5. A loan under this chapter is not bonded indebtedness for purposes of IC 6-1.1-18.5.As added by P.L.182-2009(ss), SEC.156.
IN Code § 6-1.1-21.4-0.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.4. Rainy Day Fund Loans for Eligible School Corporations|6-1.1-21.4-0.5. "Adm"

Sec. 0.5. As used in this chapter, "ADM" refers to a school corporation's average daily membership as determined under IC 20-43-4-2.As added by P.L.145-2012, SEC.15.
IN Code § 6-1.1-21.4-1 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.4. Rainy Day Fund Loans for Eligible School Corporations|6-1.1-21.4-1. "Board"

Sec. 1. As used in this chapter, "board" refers to the state board of finance.As added by P.L.131-2008, SEC.5.
IN Code § 6-1.1-21.4-2 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.4. Rainy Day Fund Loans for Eligible School Corporations|6-1.1-21.4-2. "Eligible School Corporation"

Sec. 2. As used in this chapter, "eligible school corporation" refers to any of the following:(1) A school corporation located in a county in which distributions of property tax revenue for 2007 or 2008 to the taxing units (as defined in IC 6-1.1-1-21) of the county:(A) have not been made; or(B) were delayed by more than sixty (60) days after either due date specified in IC 6-1.1-22-9.(2) A school corporation that is:(A) designated by the distressed unit appeal board as a distressed political subdivision under IC 6-1.1-20.3; or(B) approved for a loan by the distressed unit appeal board under IC 6-1.1-20.3-8.3.(3) A school corporation that had a loan from the counter-cyclical revenue and economic stabilization fund denied in October 2013. However, the school corporation is not an eligible school corporation if in 2014 the voters approve a referendum tax levy for the school corporation under IC 20-46-1.As added by P.L.131-2008, SEC.5. Amended by P.L.145-2012, SEC.16; P.L.166-2014, SEC.5.
IN Code § 6-1.1-21.4-3 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.4. Rainy Day Fund Loans for Eligible School Corporations|6-1.1-21.4-3. Eligible School Corporation; Maximum Loan; Loan Terms

Sec. 3. (a) An eligible school corporation may apply to the board for a loan from the counter-cyclical revenue and economic stabilization fund.(b) Subject to subsections (c) and (d) and section 3.5 of this chapter, an eligible school corporation described in section 2(2) of this chapter may apply to the board for a loan. The maximum amount of a loan that the board may approve for the eligible school corporation is the lesser of the following:(1) Five million dollars ($5,000,000).(2) The product of:(A) one thousand dollars ($1,000); multiplied by(B) the school corporation's 2012 ADM.(c) At the time the distressed unit appeal board designates a school corporation as a distressed political subdivision under IC 6-1.1-20.3 or recommends under IC 6-1.1-20.3-8.3 that a loan from the fund be approved for a school corporation, the distressed unit appeal board may also recommend to the state board of finance that a loan from the fund to the school corporation be contingent upon any of the following:(1) The sale of specified unused property by the school board.(2) The school corporation modifying one (1) or more specified contracts entered into by the school corporation.(d) In making a loan from the fund to a school corporation, the state board of finance may make the loan contingent upon any condition recommended by the distressed unit appeal board under subsection (c).(e) This subsection applies only to an eligible school corporation described in section 2(3) of this chapter. The board shall make the loan to the eligible school corporation. The following apply to a loan made under this subsection:(1) The maximum amount of a loan set forth in subsection (b).(2) Sections 3.5 through 7 of this chapter.In addition, an eligible school corporation receiving a loan under this subsection shall sell any unimproved land owned by the eligible school corporation that on April 1, 2014, is not contiguous to the grounds of any school.As added by P.L.131-2008, SEC.5. Amended by P.L.145-2012, SEC.17; P.L.166-2014, SEC.6.
IN Code § 6-1.1-21.4-3.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.4. Rainy Day Fund Loans for Eligible School Corporations|6-1.1-21.4-3.5. Termination of Authority to Make Loans

Sec. 3.5. The board may not approve a loan under this chapter after December 31, 2017.As added by P.L.145-2012, SEC.18.
IN Code § 6-1.1-21.4-4 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.4. Rainy Day Fund Loans for Eligible School Corporations|6-1.1-21.4-4. Board Determination of Loan Amount; Disbursement of Funds; Loan Repayment; No Excessive Levy; Deposit of Payments Received

Sec. 4. (a) The board, after review by the budget committee, shall determine the terms of any loan made under this chapter. The interest rate on the loan is the interest rate established by the commissioner of the department of state revenue under IC 6-8.1-10-1 minus two percent (2%), but in no case shall the interest rate be less than one percent (1%).(b) The total amount of loans under this chapter may not exceed the following:(1) Six million dollars ($6,000,000) for all calendar years ending before January 1, 2012.(2) The sum of the amounts approved under section 3(b) of this chapter for all calendar years beginning after December 31, 2011, plus the outstanding balance of all loans that were made under this chapter before 2012.(c) An eligible school corporation receiving a loan under this chapter must repay the loan within seventy-two (72) months after the date on which the loan is made.(d) The board may disburse in installments the proceeds of a loan made under this chapter.(e) An eligible school corporation may repay a loan made under this chapter from any sources of revenue.(f) The obligation to repay a loan made under this chapter is not a basis for an eligible school corporation to obtain an excessive tax levy under IC 6-1.1-19.(g) Whenever the board receives a payment on a loan made under this chapter, the board shall deposit the amount paid in the counter-cyclical revenue and economic stabilization fund.As added by P.L.131-2008, SEC.5. Amended by P.L.145-2012, SEC.19.
IN Code § 6-1.1-21.4-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.4. Rainy Day Fund Loans for Eligible School Corporations|6-1.1-21.4-5. Effects on Levy Excess Funds

Sec. 5. The proceeds of a loan received by an eligible school corporation under this chapter are not considered to be part of the ad valorem property tax levy actually collected by the eligible school corporation for taxes first due and payable during a particular calendar year for the purpose of calculating levy excess.As added by P.L.131-2008, SEC.5.
IN Code § 6-1.1-21.4-6 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.4. Rainy Day Fund Loans for Eligible School Corporations|6-1.1-21.4-6. Loan Is Not Bonded Indebtedness

Sec. 6. A loan under this chapter is not bonded indebtedness for purposes of IC 6-1.1-18.5 or IC 6-1.1-20.As added by P.L.131-2008, SEC.5. Amended by P.L.145-2012, SEC.20.
IN Code § 6-1.1-21.4-7 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.4. Rainy Day Fund Loans for Eligible School Corporations|6-1.1-21.4-7. Failure to Repay Loan

Sec. 7. Upon the failure of a school corporation to repay any of the school corporation's obligations under this chapter during a calendar year when due, the treasurer of state, upon being notified of the failure by the board, shall pay the unpaid obligations that are due from money in the possession of the state that would otherwise be available for distribution to the school corporation under any other law, deducting the payment from the amount distributed. However, the treasurer of state may not impair the rights of the school corporation's bondholders.As added by P.L.145-2012, SEC.21.
IN Code § 6-1.1-21.5-1 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.5. Loans to Qualified Taxing Units|6-1.1-21.5-1. "Qualified Taxing Unit"

Sec. 1. As used in this chapter, "qualified taxing unit" means each of the following:(1) A city having a population of more than twenty-nine thousand six hundred (29,600) but less than twenty-nine thousand nine hundred (29,900).(2) The sanitary district of a city described in subdivision (1).(3) The library district of a city described in subdivision (1).(4) The school corporation located in a city described in subdivision (1).As added by P.L.380-1987(ss), SEC.5. Amended by P.L.12-1992, SEC.23; P.L.170-2002, SEC.21; P.L.119-2012, SEC.35.
IN Code § 6-1.1-21.5-2 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.5. Loans to Qualified Taxing Units|6-1.1-21.5-2. "Board"

Sec. 2. As used in this chapter, "board" refers to the state board of finance.As added by P.L.380-1987(ss), SEC.5.
IN Code § 6-1.1-21.5-3 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.5. Loans to Qualified Taxing Units|6-1.1-21.5-3. Loan Application; Prerequisites to Grant of Loan

Sec. 3. Before January 1, 2002, a qualified taxing unit may apply to the board for a loan from the counter-cyclical revenue and economic stabilization fund. The board may make a loan from the fund to the taxing unit if:(1) a taxpayer with tangible property subject to taxation by the qualified taxing unit has filed a petition to reorganize under the federal bankruptcy code;(2) the taxpayer has defaulted on one (1) of its property tax payments;(3) the qualified taxing unit has experienced and will continue to experience a significant revenue shortfall as a result of the default; and(4) the taxpayer is a steel manufacturer that owns at least eighteen percent (18%) of the assessed value within the taxing unit.As added by P.L.380-1987(ss), SEC.5. Amended by P.L.291-2001, SEC.207.
IN Code § 6-1.1-21.5-4 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.5. Loans to Qualified Taxing Units|6-1.1-21.5-4. Maximum Amount of Loan

Sec. 4. The maximum amount that the board may loan to a qualified taxing unit under this chapter is set forth in the following table:
IN Code § 6-1.1-21.5-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.5. Loans to Qualified Taxing Units|6-1.1-21.5-5. Terms of Loan; Interest; Repayment; Depository

Sec. 5. (a) The board shall determine the terms of a loan made under this chapter. However, interest may not be charged on the loan, and the loan must be repaid not later than ten (10) years after the date on which the loan was made.(b) The loan shall be repaid only from property tax revenues of the qualified taxing unit that are subject to the levy limitations imposed by IC 6-1.1-18.5. The payment of any installment of principal constitutes a first charge against such property tax revenues as collected by the qualified taxing unit during the calendar year the installment is due and payable.(c) The obligation to repay the loan is not a basis for the qualified taxing unit to obtain an excessive tax levy under IC 6-1.1-18.5.(d) Whenever the board receives a payment on a loan made under this chapter, the board shall deposit the amount paid in the counter-cyclical revenue and economic stabilization fund.(e) This section may not be construed to prevent the qualified taxing unit from repaying a loan made under this chapter before the date specified in subsection (a) if a taxpayer described in section 3 of this chapter resumes paying property taxes to the qualified taxing unit.As added by P.L.380-1987(ss), SEC.5. Amended by P.L.291-2001, SEC.209; P.L.2-2006, SEC.59; P.L.146-2008, SEC.242.
IN Code § 6-1.1-21.5-6 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.5. Loans to Qualified Taxing Units|6-1.1-21.5-6. Loan Proceeds and Delinquent Tax Payments; Levy Excess

Sec. 6. (a) The receipt by the qualified taxing unit of the loan proceeds is not considered to be part of the ad valorem property tax levy actually collected by the qualified taxing unit for taxes first due and payable during a particular calendar year for the purpose of calculating the levy excess under IC 6-1.1-18.5-17 and IC 20-44-3. The receipt by the qualified taxing unit of any payment of delinquent tax owed by a taxpayer in bankruptcy is considered to be part of the ad valorem property tax levy actually collected by the qualified taxing unit for taxes first due and payable during a particular calendar year for the purpose of calculating the levy excess under IC 6-1.1-18.5-17 and IC 20-44-3.(b) The loan proceeds and any payment of delinquent tax may be expended by the qualified taxing unit only to pay debts of the qualified taxing unit that have been incurred pursuant to duly adopted appropriations approved by the department of local government finance for operating expenses.(c) In the event the sum of the receipts of the qualified taxing unit that are attributable to:(1) the loan proceeds; and(2) the payment of property taxes owed by a taxpayer in a bankruptcy proceeding initially filed in 2000 and payable in 2001;exceeds sixteen million dollars ($16,000,000), the excess as received during any calendar year or years shall be set aside and treated for the calendar year when received as a levy excess subject to IC 6-1.1-18.5-17 or IC 20-44-3. In calculating the payment of property taxes as provided in subdivision (2), the amount of property tax credit finally allowed under IC 6-1.1-21-5 (before its repeal) in respect to such taxes is considered a payment of such property taxes.(d) As used in this section, "delinquent tax" means any tax owed by a taxpayer in a bankruptcy proceeding initially filed in 2000 and that is not paid during the calendar year for which it was first due and payable.As added by P.L.380-1987(ss), SEC.5. Amended by P.L.291-2001, SEC.210; P.L.90-2002, SEC.202; P.L.2-2006, SEC.60; P.L.146-2008, SEC.243.
IN Code § 6-1.1-21.8-1 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.8. Rainy Day Fund Loans to Qualified Taxing Units|6-1.1-21.8-1. "Board" Defined

Sec. 1. As used in this chapter, "board" refers to the state board of finance.As added by P.L.157-2002, SEC.1.
IN Code § 6-1.1-21.8-2 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.8. Rainy Day Fund Loans to Qualified Taxing Units|6-1.1-21.8-2. "Qualified Taxing Unit"

Sec. 2. As used in this chapter, "qualified taxing unit" means a taxing unit located in a county having a population of more than one hundred fifty thousand (150,000) but less than one hundred seventy thousand (170,000).As added by P.L.157-2002, SEC.1. Amended by P.L.119-2012, SEC.36.
IN Code § 6-1.1-21.8-3 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.8. Rainy Day Fund Loans to Qualified Taxing Units|6-1.1-21.8-3. Loan Application; Prerequisites to Grant of Loan

Sec. 3. A qualified taxing unit may apply to the board for one (1) or more loans from the counter-cyclical revenue and economic stabilization fund. The board may make a loan from the fund to the qualified taxing unit if:(1) a taxpayer with tangible property subject to taxation by the qualified taxing unit has filed a petition to reorganize under the federal bankruptcy code;(2) the taxpayer has defaulted on one (1) or more of its property tax payments;(3) the qualified taxing unit has experienced and will continue to experience a significant revenue shortfall as a result of the default; and(4) the taxpayer is a steel manufacturer.As added by P.L.157-2002, SEC.1.
IN Code § 6-1.1-21.8-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.8. Rainy Day Fund Loans to Qualified Taxing Units|6-1.1-21.8-5. Maximum Loan Amount for a Particular Qualified Taxing Unit

Sec. 5. The maximum amount that the board may loan to a qualified taxing unit is determined under STEP FOUR of the following formula:STEP ONE: Determine the amount of the taxpayer's property taxes due and payable in November 2001 that are attributable to the qualified taxing unit as determined by the department of local government finance.STEP TWO: Multiply the STEP ONE amount by one and thirty-one thousandths (1.031).STEP THREE: Multiply the STEP TWO product by two (2).STEP FOUR: Add the STEP ONE amount to the STEP THREE product.However, in the case of a qualified taxing unit that is a school corporation, the amount determined under STEP FOUR shall be reduced by the board to the extent that the school corporation receives relief in the form of adjustments to the school corporation's net assessed valuation under IC 6-1.1-17-0.5 or assessed valuation under IC 6-1.1-19-5.3.As added by P.L.157-2002, SEC.1. Amended by P.L.2-2006, SEC.63; P.L.146-2008, SEC.245; P.L.137-2012, SEC.38.
IN Code § 6-1.1-21.8-6 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.8. Rainy Day Fund Loans to Qualified Taxing Units|6-1.1-21.8-6. "Delinquent Tax"; Loan Proceeds and Delinquent Tax Payments; Calculation of Levy Excess; Expenditure of Loan Receipts

Sec. 6. (a) As used in this section, "delinquent tax" means any tax:(1) owed by a taxpayer in a bankruptcy proceeding initially filed in 2001; and(2) not paid during the calendar year in which it was first due and payable.(b) Except as provided in subsection (d), the proceeds of a loan received by the qualified taxing unit under this chapter are not considered to be part of the ad valorem property tax levy actually collected by the qualified taxing unit for taxes first due and payable during a particular calendar year for the purpose of calculating the levy excess under IC 6-1.1-18.5-17 and IC 20-44-3. The receipt by a qualified taxing unit of any payment of delinquent tax owed by a taxpayer in bankruptcy is considered to be part of the ad valorem property tax levy actually collected by the qualified taxing unit for taxes first due and payable during a particular calendar year for the purpose of calculating the levy excess under IC 6-1.1-18.5-17 and IC 20-44-3.(c) The proceeds of a loan made under this chapter must first be used to retire any outstanding loans made by the department of commerce (including any loans made by the department of commerce that are transferred to the Indiana economic development corporation) to cover a qualified taxing unit's revenue shortfall resulting from the taxpayer's default on property tax payments. Any remaining proceeds of a loan made under this chapter and any payment of delinquent taxes by the taxpayer may be expended by the qualified taxing unit only to pay obligations of the qualified taxing unit that have been incurred under appropriations for operating expenses made by the qualified taxing unit and approved by the department of local government finance.(d) If the sum of the receipts of a qualified taxing unit that are attributable to:(1) the loan proceeds; and(2) the payment of property taxes owed by a taxpayer in a bankruptcy proceeding and payable in November 2001, May 2002, or November 2002;exceeds the sum of the taxpayer's property tax liability attributable to the qualified taxing unit for property taxes payable in November 2001, May 2002, and November 2002, the excess as received during any calendar year or years shall be set aside and treated for the calendar year when received as a levy excess subject to IC 6-1.1-18.5-17 or IC 20-44-3. In calculating the payment of property taxes as referred to in subdivision (2), the amount of property tax credit finally allowed under IC 6-1.1-21-5 (before its repeal) in respect to those taxes is considered to be a payment of those property taxes.As added by P.L.157-2002, SEC.1. Amended by P.L.4-2005, SEC.42; P.L.2-2006, SEC.64; P.L.146-2008, SEC.246.
IN Code § 6-1.1-21.9-1 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.9. Rainy Day Fund Loans for Qualified Taxing Units|6-1.1-21.9-1. Definitions

Sec. 1. (a) As used in this chapter, "board" refers to the state board of finance.(b) As used in this chapter, "qualified taxing unit" means a taxing unit:(1) in which a qualifying taxpayer has tangible property subject to taxation; and(2) that has experienced or is expected to experience a significant revenue shortfall as a result of a default or an expected default described in subsection (c)(3).(c) As used in this chapter, "qualifying taxpayer" means a taxpayer that:(1) manufactures microelectronics as part of its business;(2) has filed a petition to reorganize under the federal bankruptcy code; and(3) has defaulted, or has notified the county fiscal body of the county in which the taxpayer is subject to property taxes that the taxpayer will default, on all or part of one (1) or more of its property tax payments.As added by P.L.114-2006, SEC.3.
IN Code § 6-1.1-21.9-2 (2021)
2021 Indiana Code|Title 6. Taxation|Article 1.1. Property Taxes|Chapter 21.9. Rainy Day Fund Loans for Qualified Taxing Units|6-1.1-21.9-2. Qualified Taxing Unit

Sec. 2. A qualified taxing unit may apply to the board for one (1) or more loans from the counter-cyclical revenue and economic stabilization fund.As added by P.L.114-2006, SEC.3.