Ind. Code § 6-3.6-9-1
Budget agency accounting for each county; undistributed amounts
Redline — January 1, 2018 → current.View current text →
Current — January 1, 2025
As of January 1, 2018
Note: This version of section effective until 7-1-2027. See also following version of this section, effective 7-1-2027.
Sec. 1. (a) A trust account within the state general fund shall be established for each county that imposes a tax. Any revenue derived from the imposition of the tax by a county shall be deposited in that county's trust account in the state general fund. The county's trust account shall be maintained by the budget agency for each county without consideration for the county's allocation of tax revenue among the purposes authorized by this article.
Sec. 1. (a) The budget agency shall maintain an accounting for each county imposing a tax based on annual returns filed by or for county taxpayers. Any undistributed amounts so accounted for shall be held in reserve for the respective counties separate from the state general fund.
(b) Any income earned on money held in a trust account under subsection (a) becomes a part of that trust account.
(c) Any revenue remaining in a trust account established under subsection (a) at the end of a fiscal year does not revert to the state general fund.
(b) Undistributed amounts shall be invested by the treasurer of state and the income earned shall be credited to the counties based on each county's undistributed amount.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.