Sec. 12. The proceeds of a loan under this chapter received by an eligible taxing unit 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 levy excess.
Ind. Code § 6-1.1-22.1-12
Loan proceeds; not considered part of ad valorem property tax levy actually collected
As added by P.L.236-2023, SEC.43.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.