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CHAPTER 15.5. MUNICIPAL CUMULATIVE CAPITAL DEVELOPMENT FUND

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IC 36-9-15.5 Chapter 15.5. Municipal Cumulative Capital Development Fund IC 36-9-15.5-1 Application of chapter Sec. 1. This chapter applies to all municipalities. As added by P.L.44-1984, SEC.17. IC 36-9-15.5-2 Authorization of fund; purpose Sec. 2. The legislative body of a municipality may establish a cumulative capital development fund under IC 6-1.1-41 to provide money for any purpose for which property taxes may be imposed within the municipality under the authority of: IC 8-16-3; IC 8-22-3-25; IC 14-27-6-48; IC 14-33-14; IC 16-23-1-40; IC 36-8-14; IC 36-9-4-48; IC 36-9-16-2; IC 36-9-16-3; IC 36-9-16.5; IC 36-9-17; IC 36-9-26; IC 36-9-27-100; IC 36-10-3-21; or IC 36-10-4-36. As added by P.L.44-1984, SEC.17. Amended by P.L.2-1993, SEC.208; P.L.1-1995, SEC.87; P.L.17-1995, SEC.32. IC 36-9-15.5-3 Repealed (Repealed by P.L.17-1995, SEC.45.) IC 36-9-15.5-4 Repealed (Repealed by P.L.17-1995, SEC.45.) IC 36-9-15.5-5 Repealed (Repealed by P.L.17-1995, SEC.45.) IC 36-9-15.5-6 Tax levy; rate of tax Sec. 6. (a) Except as provided in subsection (c), the municipal fiscal body may provide money for the cumulative capital development fund by levying a tax in compliance with IC 6-1.1-41 on the taxable property in the municipality. (b) The maximum property tax rate that may be imposed for property taxes first due and payable during a particular year in a municipality that is either wholly or partially located in a county in which the county option income tax or the county adjusted gross income tax is in effect on January 1 of that year depends upon the number of years the municipality has previously imposed a tax under this chapter and is determined under the following table: NUMBER TAX RATE PER $100 OF YEARS OF ASSESSED VALUATION 0 $0.0167 1 $0.0333 2 or more $0.05 (c) The maximum property tax rate that may be imposed for property taxes first due and payable during a particular year in a municipality that is wholly located in a county in which neither the county option income tax nor the county adjusted gross income tax is in effect on January 1 of that year depends upon the number of years the municipality has previously imposed a tax under this chapter and is determined under the following table: NUMBER TAX RATE PER $100 OF YEARS OF ASSESSED VALUATION 0 $0.0133 1 $0.0267 2 or more $0.04 As added by P.L.44-1984, SEC.17. Amended by P.L.17-1995, SEC.33; P.L.146-2008, SEC.792. IC 36-9-15.5-7 Repealed (Repealed by P.L.17-1995, SEC.45.) IC 36-9-15.5-8 Cumulative capital development fund; transfer between funds; expenditures Sec. 8. (a) The tax money collected under this chapter shall be held in a special fund to be known as the cumulative capital development fund. (b) In a consolidated city, money may be transferred from the fund to the fund of a department of the consolidated city responsible for carrying out a purpose for which the cumulative capital development fund was created. The department may not expend any money so transferred until an appropriation is made and the department may not expend any money so transferred for operating costs of the department. (c) Money held in the cumulative capital development fund may be spent for purposes other than the purposes stated in section 2 of this chapter, if the purpose is to protect the public health, welfare, or safety in an emergency situation that demands immediate action or to make a contribution to an authority established under IC 36-7-23. Money may be spent under the authority of this subsection only after the executive of the municipality: (1) issues a declaration that the public health, welfare, or safety is in immediate danger that requires the expenditure of money in the fund; or (2) certifies in the minutes of the municipal legislative body that the contribution is made to the authority for capital development purposes. As added by P.L.44-1984, SEC.17. Amended by P.L.82-1985, SEC.6; P.L.346-1989(ss), SEC.9; P.L.17-1995, SEC.34.
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  • IC 36-9-15.5
         Chapter 15.5. Municipal Cumulative Capital Development Fund

    IC 36-9-15.5-1
    Application of chapter
        
    Sec. 1. This chapter applies to all municipalities.
    As added by P.L.44-1984, SEC.17.

    IC 36-9-15.5-2
    Authorization of fund; purpose
        
    Sec. 2. The legislative body of a municipality may establish a cumulative capital development fund under IC 6-1.1-41 to provide money for any purpose for which property taxes may be imposed within the municipality under the authority of:
            IC 8-16-3;
            IC 8-22-3-25;
            IC 14-27-6-48;
            IC 14-33-14;
            IC 16-23-1-40;
            IC 36-8-14;
            IC 36-9-4-48;
            IC 36-9-16-2;
            IC 36-9-16-3;
            IC 36-9-16.5;
            IC 36-9-17;
            IC 36-9-26;
            IC 36-9-27-100;
            IC 36-10-3-21; or
            IC 36-10-4-36.
    As added by P.L.44-1984, SEC.17. Amended by P.L.2-1993, SEC.208; P.L.1-1995, SEC.87; P.L.17-1995, SEC.32.

    IC 36-9-15.5-3
    Repealed
        
    (Repealed by P.L.17-1995, SEC.45.)

    IC 36-9-15.5-4
    Repealed
        
    (Repealed by P.L.17-1995, SEC.45.)

    IC 36-9-15.5-5
    Repealed
        
    (Repealed by P.L.17-1995, SEC.45.)

    IC 36-9-15.5-6
    Tax levy; rate of tax
        
    Sec. 6. (a) Except as provided in subsection (c), the municipal fiscal body may provide money for the cumulative capital development fund by levying a tax in compliance with IC 6-1.1-41 on the taxable property in the municipality.     (b) The maximum property tax rate that may be imposed for property taxes first due and payable during a particular year in a municipality that is either wholly or partially located in a county in which the county option income tax or the county adjusted gross income tax is in effect on January 1 of that year depends upon the number of years the municipality has previously imposed a tax under this chapter and is determined under the following table:
        NUMBER     TAX RATE PER $100
        OF YEARS     OF ASSESSED
             VALUATION
        0     $0.0167
        1     $0.0333
        2 or more     $0.05
        (c) The maximum property tax rate that may be imposed for property taxes first due and payable during a particular year in a municipality that is wholly located in a county in which neither the county option income tax nor the county adjusted gross income tax is in effect on January 1 of that year depends upon the number of years the municipality has previously imposed a tax under this chapter and is determined under the following table:
        NUMBER     TAX RATE PER $100
        OF YEARS     OF ASSESSED
             VALUATION
        0     $0.0133
        1     $0.0267
        2 or more     $0.04
    As added by P.L.44-1984, SEC.17. Amended by P.L.17-1995, SEC.33; P.L.146-2008, SEC.792.

    IC 36-9-15.5-7
    Repealed
        
    (Repealed by P.L.17-1995, SEC.45.)

    IC 36-9-15.5-8
    Cumulative capital development fund; transfer between funds; expenditures
        
    Sec. 8. (a) The tax money collected under this chapter shall be held in a special fund to be known as the cumulative capital development fund.
        (b) In a consolidated city, money may be transferred from the fund to the fund of a department of the consolidated city responsible for carrying out a purpose for which the cumulative capital development fund was created. The department may not expend any money so transferred until an appropriation is made and the department may not expend any money so transferred for operating costs of the department.
        (c) Money held in the cumulative capital development fund may be spent for purposes other than the purposes stated in section 2 of this chapter, if the purpose is to protect the public health, welfare, or safety in an emergency situation that demands immediate action or

    to make a contribution to an authority established under IC 36-7-23. Money may be spent under the authority of this subsection only after the executive of the municipality:
            (1) issues a declaration that the public health, welfare, or safety is in immediate danger that requires the expenditure of money in the fund; or
            (2) certifies in the minutes of the municipal legislative body that the contribution is made to the authority for capital development purposes.
    As added by P.L.44-1984, SEC.17. Amended by P.L.82-1985, SEC.6; P.L.346-1989(ss), SEC.9; P.L.17-1995, SEC.34.

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