IC 20-44-3
Chapter 3. Application of Levy Excess to Reduce Property Taxes
IC 20-44-3-1 "Fund"
Sec. 1. As used in this chapter, "fund" refers to a levy excess fund
established under IC 20-40-10-2. As added by P.L.2-2006, SEC.167. Amended by P.L.1-2007,
SEC.153.
IC 20-44-3-2 "Levy excess" defined; limitation
Sec. 2. As used in this chapter, "levy excess" means that part of
the property tax levy actually collected by a school corporation for
taxes first due and payable during a particular calendar year that
exceeds the school corporation's total levy, as approved by the
department of local government finance under IC 6-1.1-17, for those
property taxes. The term does not include delinquent ad valorem
property taxes collected during a particular year that were assessed
for an assessment date that precedes the assessment date for the
current year in which the ad valorem property taxes are collected. As added by P.L.2-2006, SEC.167. Amended by P.L.154-2006,
SEC.68.
IC 20-44-3-3 Validity; levy excess
Sec. 3. A school corporation's levy excess is valid. As added by P.L.2-2006, SEC.167. Amended by P.L.146-2008,
SEC.491.
IC 20-44-3-4 Required deposit of levy excess; levy excess fund
Sec. 4. Except as provided in section 9 of this chapter, a school
corporation shall deposit its levy excess in a fund to be known as the
school corporation's levy excess fund. As added by P.L.2-2006, SEC.167.
IC 20-44-3-5 Inclusion of balance in budget
Sec. 5. The department of local government finance shall require
a school corporation to include the amount in the school
corporation's fund in the school corporation's budget fixed under
IC 6-1.1-17. As added by P.L.2-2006, SEC.167.
IC 20-44-3-6 Expenditure after appropriation; reduction of maximum levy
Sec. 6. Except as provided in section 7 of this chapter, a school
corporation may not spend money in its fund until the expenditure of
the money has been included in a budget that has been approved by
the department of local government finance under IC 6-1.1-17. For
purposes of fixing its budget and for purposes of the property tax
levy limits fixed by law, a school corporation shall treat the money
in its fund that the department of local government finance permits
the school corporation to spend during a particular calendar year as
part of the school corporation's property tax levy for that same
calendar year. As added by P.L.2-2006, SEC.167.
IC 20-44-3-7 Transfer between funds
Sec. 7. A school corporation may transfer money from its fund to
its other funds to reimburse those funds for amounts withheld from
the school corporation as a result of refunds paid under IC 6-1.1-26. As added by P.L.2-2006, SEC.167.
IC 20-44-3-8 Uses
Sec. 8. Subject to the limitations imposed by this chapter, a school
corporation may use money in its fund for any lawful purpose for
which money in any of its other funds may be used. As added by P.L.2-2006, SEC.167.
IC 20-44-3-9 Minimum balance
Sec. 9. If the amount that would be deposited in the fund of a
school corporation for a particular calendar year is less than one
hundred dollars ($100), no money shall be deposited in the fund of
the school corporation for that year. As added by P.L.2-2006, SEC.167.
IC 20-44-3
Chapter 3. Application of Levy Excess to Reduce Property Taxes
IC 20-44-3-1 "Fund"
Sec. 1. As used in this chapter, "fund" refers to a levy excess fund
established under IC 20-40-10-2. As added by P.L.2-2006, SEC.167. Amended by P.L.1-2007,
SEC.153.
IC 20-44-3-2 "Levy excess" defined; limitation
Sec. 2. As used in this chapter, "levy excess" means that part of
the property tax levy actually collected by a school corporation for
taxes first due and payable during a particular calendar year that
exceeds the school corporation's total levy, as approved by the
department of local government finance under IC 6-1.1-17, for those
property taxes. The term does not include delinquent ad valorem
property taxes collected during a particular year that were assessed
for an assessment date that precedes the assessment date for the
current year in which the ad valorem property taxes are collected. As added by P.L.2-2006, SEC.167. Amended by P.L.154-2006,
SEC.68.
IC 20-44-3-3 Validity; levy excess
Sec. 3. A school corporation's levy excess is valid. As added by P.L.2-2006, SEC.167. Amended by P.L.146-2008,
SEC.491.
IC 20-44-3-4 Required deposit of levy excess; levy excess fund
Sec. 4. Except as provided in section 9 of this chapter, a school
corporation shall deposit its levy excess in a fund to be known as the
school corporation's levy excess fund. As added by P.L.2-2006, SEC.167.
IC 20-44-3-5 Inclusion of balance in budget
Sec. 5. The department of local government finance shall require
a school corporation to include the amount in the school
corporation's fund in the school corporation's budget fixed under
IC 6-1.1-17. As added by P.L.2-2006, SEC.167.
IC 20-44-3-6 Expenditure after appropriation; reduction of maximum levy
Sec. 6. Except as provided in section 7 of this chapter, a school
corporation may not spend money in its fund until the expenditure of
the money has been included in a budget that has been approved by
the department of local government finance under IC 6-1.1-17. For
purposes of fixing its budget and for purposes of the property tax
levy limits fixed by law, a school corporation shall treat the money
in its fund that the department of local government finance permits
the school corporation to spend during a particular calendar year as
part of the school corporation's property tax levy for that same
calendar year. As added by P.L.2-2006, SEC.167.
IC 20-44-3-7 Transfer between funds
Sec. 7. A school corporation may transfer money from its fund to
its other funds to reimburse those funds for amounts withheld from
the school corporation as a result of refunds paid under IC 6-1.1-26. As added by P.L.2-2006, SEC.167.
IC 20-44-3-8 Uses
Sec. 8. Subject to the limitations imposed by this chapter, a school
corporation may use money in its fund for any lawful purpose for
which money in any of its other funds may be used. As added by P.L.2-2006, SEC.167.
IC 20-44-3-9 Minimum balance
Sec. 9. If the amount that would be deposited in the fund of a
school corporation for a particular calendar year is less than one
hundred dollars ($100), no money shall be deposited in the fund of
the school corporation for that year. As added by P.L.2-2006, SEC.167.
IC 20-44-3
Chapter 3. Application of Levy Excess to Reduce Property Taxes
IC 20-44-3-1 "Fund"
Sec. 1. As used in this chapter, "fund" refers to a levy excess fund
established under IC 20-40-10-2. As added by P.L.2-2006, SEC.167. Amended by P.L.1-2007,
SEC.153.
IC 20-44-3-2 "Levy excess" defined; limitation
Sec. 2. As used in this chapter, "levy excess" means that part of
the property tax levy actually collected by a school corporation for
taxes first due and payable during a particular calendar year that
exceeds the school corporation's total levy, as approved by the
department of local government finance under IC 6-1.1-17, for those
property taxes. The term does not include delinquent ad valorem
property taxes collected during a particular year that were assessed
for an assessment date that precedes the assessment date for the
current year in which the ad valorem property taxes are collected. As added by P.L.2-2006, SEC.167. Amended by P.L.154-2006,
SEC.68.
IC 20-44-3-3 Validity; levy excess
Sec. 3. A school corporation's levy excess is valid. As added by P.L.2-2006, SEC.167. Amended by P.L.146-2008,
SEC.491.
IC 20-44-3-4 Required deposit of levy excess; levy excess fund
Sec. 4. Except as provided in section 9 of this chapter, a school
corporation shall deposit its levy excess in a fund to be known as the
school corporation's levy excess fund. As added by P.L.2-2006, SEC.167.
IC 20-44-3-5 Inclusion of balance in budget
Sec. 5. The department of local government finance shall require
a school corporation to include the amount in the school
corporation's fund in the school corporation's budget fixed under
IC 6-1.1-17. As added by P.L.2-2006, SEC.167.
IC 20-44-3-6 Expenditure after appropriation; reduction of maximum levy
Sec. 6. Except as provided in section 7 of this chapter, a school
corporation may not spend money in its fund until the expenditure of
the money has been included in a budget that has been approved by
the department of local government finance under IC 6-1.1-17. For
purposes of fixing its budget and for purposes of the property tax
levy limits fixed by law, a school corporation shall treat the money
in its fund that the department of local government finance permits
the school corporation to spend during a particular calendar year as
part of the school corporation's property tax levy for that same
calendar year. As added by P.L.2-2006, SEC.167.
IC 20-44-3-7 Transfer between funds
Sec. 7. A school corporation may transfer money from its fund to
its other funds to reimburse those funds for amounts withheld from
the school corporation as a result of refunds paid under IC 6-1.1-26. As added by P.L.2-2006, SEC.167.
IC 20-44-3-8 Uses
Sec. 8. Subject to the limitations imposed by this chapter, a school
corporation may use money in its fund for any lawful purpose for
which money in any of its other funds may be used. As added by P.L.2-2006, SEC.167.
IC 20-44-3-9 Minimum balance
Sec. 9. If the amount that would be deposited in the fund of a
school corporation for a particular calendar year is less than one
hundred dollars ($100), no money shall be deposited in the fund of
the school corporation for that year. As added by P.L.2-2006, SEC.167.
