Sec. 12. (a) Except as provided in subsection (b), a participant receiving a loan or other financial assistance under:
(1) this chapter;
(2) IC 13-2-23 (before its repeal); or
(3) IC 14-28-5 (before its repeal);
may levy an annual tax on personal and real property located within the geographical limits of the participant for flood control purposes. The tax is in addition to any other tax authorized by law to be levied for flood control purposes. The tax shall be levied at the rate that will produce sufficient revenue to pay the annual installment and interest on a loan or other financial assistance made under this chapter, under IC 13-2-23 (before its repeal), or under IC 14-28-5 (before its repeal). The tax at the rate authorized in this section is in addition to the maximum annual rates prescribed by law.
(b) This subsection applies to the participation of the Kankakee River basin and Yellow River basin development commission. If the commission receives a loan or other financial assistance under this chapter, the commission must pay the annual installment and interest on the loan or other financial assistance from any combination of the direct support payments received under IC 14-13-9-21, the proceeds of special assessments imposed under IC 14-13-9-21, or other funds of the commission deemed acceptable by the authority.
As added by P.L.189-2018, SEC.25. Amended by P.L.282-2019, SEC.2.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
