Ind. Code § 6-1.1-21.8-3
Loan application; prerequisites to grant of loan
Indiana · Indiana Code Title 6 — Taxation · Status: effective
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- Ind. Code § 6-1.1-21.8-3, Loan application; prerequisites to grant of loan, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1611368
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Sec. 3. A qualified taxing unit may apply to the board for one (1) or more loans from the counter-cyclical revenue and economic stabilization fund. The board may make a loan from the fund to the qualified taxing unit if:
(1) a taxpayer with tangible property subject to taxation by the qualified taxing unit has filed a petition to reorganize under the federal bankruptcy code;
(2) the taxpayer has defaulted on one (1) or more of its property tax payments;
(3) the qualified taxing unit has experienced and will continue to experience a significant revenue shortfall as a result of the default; and
(4) the taxpayer is a steel manufacturer.